10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2021

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________________ to __________________

Commission file number: 000-15746

VIEWBIX INC.

(Exact Name Of Registrant As Specified In Its Charter)

Delaware	68-0080601
(State of	(I.R.S. Employer
Incorporation)	Identification No.)

11 Derech Menachem Begin Street, Ramat Gan, Israel	5268104
(Address of Principal Executive Offices)	(ZIP Code)

Registrant’s Telephone Number, Including Area Code: +972 9-774-1505

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Par Value $0.0001	VBIX	OTCQB

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer (as defined in Rule 12b-2 of the Exchange Act) or a smaller reporting company.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒ (Do not check if a smaller reporting company)	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

On June 30, 2021, the Registrant had 34,753,669 shares of common stock issued and outstanding.

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VIEWBIX INC.

TABLE OF CONTENTS

Item	Description	Page
	PART I - FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS	3
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS	20
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	23
ITEM 4.	CONTROLS AND PROCEDURES	23
	PART II - OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS	24
ITEM 1A.	RISK FACTORS	24
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	24
ITEM 3.	DEFAULT UPON SENIOR SECURITIES	24
ITEM 4.	MINE SAFETY DISCLOSURE	24
ITEM 5.	OTHER INFORMATION	24
ITEM 6.	EXHIBITS	25
	SIGNATURES	26

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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

VIEWBIX INC. (Formerly known as Virtual Crypto Technologies, Inc.)

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

June 30, 2021

CONTENTS

	Page
Interim Condensed Consolidated Balance Sheets (unaudited) Interim Condensed Consolidated Balance Sheets (unaudited)	4 – 5
Interim Condensed Consolidated Statements of Comprehensive Loss (unaudited)	6
Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity (unaudited)	7
Interim Condensed Consolidated Statements of Cash Flows (unaudited)	8
Notes to the Interim Condensed Consolidated Financial Statements	9 - 19

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VIEWBIX INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

U.S. dollars in thousands (except share data)

		As of June 30		As of December 31
	Note	2021		2020
ASSETS
CURRENT ASSETS
Cash and cash equivalents			126		148
Trade receivables			35		15
Other accounts receivable	3		15		20
Prepaid expenses			16		42
Total current assets			192		225
Total assets			192		225

The accompanying notes are an integral part of these condensed consolidated financial statements.

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VIEWBIX INC.

CONSOLIDATED BALANCE SHEETS (Unaudited) (Cont.)

U.S. dollars in thousands (except share data)

		As of June 30			As of December 31
	Note	2021			2020
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Trade payables			-			22
Other accounts payables and accrued liabilities	4		199			177
Payable to parent company	5		2,171			2,054
Short term loan	6		59			50
Total current liabilities			2,429			2,303
Commitments and contingencies	8
STOCKHOLDERS’ DEFICIT	7
Share Capital
Common stock of $0.0001 par value - Authorized: 490,000,000 shares; Issued and outstanding: 34,753,669 shares as of December 31, 2020; and June 30, 2021			3			3
Additional paid-in capital			13,073			13,073
Accumulated deficit			(15,313	)		(15,154	)
Total stockholders’ deficit			(2,237	)		(2,078	)
Total liabilities and stockholders’ deficit			192			225

The accompanying notes are an integral part of these condensed consolidated financial statements.

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VIEWBIX INC. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited)

U.S. dollars in thousands (except share data)

		For the six months ended June 30						For the three months ended June 30
	Note	2021			2020			2021			2020
Revenues			25			70			17			33
Cost of revenues			-			4			-			-
Gross profit			25			66			17			33
Operating expenses:
Research and development			28			59			12			-
Selling and marketing			2			7			-			-
General and administrative			142			269			79			94
Gain from sale of a subsidiary			-			(8	)		-			-
Operating loss			147			261			74			61
Financial expenses, net	8		(11	)		(4	)		(4	)		(32	)
Loss before tax			158			265			78			93
Taxes on income	9		1			2			1			-
Net loss			159			267			79			93
Loss per share - basic and diluted	10		0.005			0.009			0.002			0.003
Weighted average number of common stock outstanding used in the computations of loss per share (in thousands) (*)			34,753,669			31,201,669			34,753,669			31,201,669

The accompanying notes are an integral part of these condensed consolidated financial statements.

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VIEWBIX INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT (Unaudited)

U.S. dollars in thousands (except share data)

	Common stock				Additional paid-in		Accumulated			Total shareholders’
	Number		Amount		capital		deficit			deficit
Balance as of January 1, 2021		34,753,669		3		13,073		(15,154	)		(2,078	)
Net loss for the period		-		-		-		(159	)		(159	)
Balance as of June 30, 2021		34,753,669		3		13,073		(15,313	)		(2,237	)

	Common stock				Additional paid-in		Accumulated			Total shareholders’
	Number		Amount		capital		deficit			deficit
Balance as of April 1, 2021		34,753,669		3		13,073		(15,234	)		(2,158	)
Net loss for the period		-		-		-		(79	)		(79	)
Balance as of June 30, 2021		34,753,669		3		13,073		(15,313	)		(2,237	)

	Common stock				Additional paid-in		Accumulated			Total shareholders’
	Number		Amount		capital		deficit			deficit
Balance as of January 1, 2020		31,201,669		3		13,015		(14,711	)		(1,693	)
Net loss for the period		-		-		-		(267	)		(267	)
Balance as of June 30, 2020		31,201,669		3		13,015		(14,978	)		(1,960	)

	Common stock				Additional paid-in		Accumulated			Total shareholders’
	Number		Amount		Capital		deficit			deficit
Balance as of April 1, 2020		31,201,669		3		13,015		(14,885	)		(1,867	)
Net loss for the period		-		-		-		(93	)		(93	)
Balance as of June 30, 2020		31,201,669		3		13,015		(14,978	)		(1,960	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

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VIEWBIX INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

U.S. dollars in thousands (except share data)

	For the six months ended June 30						For the three months ended June 30
	2021			2020			2021			2020
	Unaudited						Unaudited
Cash flows from operating activities
Net loss for the period		(159	)		(267	)		(79	)		(93	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation		-			5			-			-
Gain from sale of a subsidiary		-			(8	)		-			-
Changes in assets and liabilities:
Decrease (increase) in prepaid expenses		6			14			(4	)		8
Decrease (increase) in other receivables		4			106			(2	)		24
Increase (decrease) in trade payables		-			(76	)		4			(4	)
Financing expenses from short-term loans		10			-			6			-
Decrease in other accounts payables		-			(39	)		-			(24	)
Increase in payable to parent company		117			244			67			58
Net cash provided by (used in) operating activities		(22	)		(21	)		(8	)		(31	)
Cash flows from investing activities
Cash received from sale of a subsidiary		-			13			-			-
Net cash provided by Investing activities		-			13			-			-
Decrease in cash and cash equivalents and restricted cash		(22	)		(8	)		(8	)		(31	)
Cash and cash equivalents and restricted cash at the beginning of the year		148			87			134			110
Cash and cash equivalents and restricted cash at the end of the year		126			79			126			79

Supplemental Cash Flow Information:

	As of February 12
	2020
Current assets excluding cash and cash equivalents		6
Current liabilities		(1	)
Gain from sale of a subsidiary		8
Cash received from the sale of a subsidiary		13

The accompanying notes are an integral part of these condensed consolidated financial statements.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 1: GENERAL

Organizational Background

Viewbix Inc. (formerly known as Virtual Crypto Technologies, Inc.) (the “Company”) was incorporated in the State of Ohio in 1989 under a predecessor name, Zaxis International, Inc. (“Zaxis”). On August 25, 1995, Zaxis merged with a subsidiary of The InFerGene Company, a Delaware corporation, which entity changed its name to Zaxis International, Inc. and the Company was reincorporated in Delaware under the name of Zaxis International, Inc. On December 30, 2014, Zaxis entered into an agreement with Emerald Medical Applications Ltd., a private limited liability company organized under the laws of the State of Israel (“Emerald Israel”).

On June 6, 2020, Algomizer changed its name to Gix Internet Ltd., or Gix.

On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Gix Internet Ltd. (TASE:ALMO), a company organized under the laws of the State of Israel (“Gix”), pursuant to which on July 25, 2019 (the “Closing Date”), Gix assigned, transferred and delivered its 99.83% holdings in Viewbix Ltd. (“Viewbix Israel”) to the Company in exchange for shares of restricted common stock of the Company, representing 65% of the issued and outstanding share capital of the Company on a fully diluted basis as of the Closing Date following the conversion of certain convertible notes of the Company and excluding certain warrants to purchase shares of the Common Stock expiring in 2020 and additional warrants as further described below (the “Fully Diluted Share Capital”). In addition, upon the earlier of: (a) the launch of a live video product to an American consumer in the United States by Viewbix Israel, or (b) the launch of an interactive television product to an American consumer in the United States by Viewbix Israel, the Company will issue to Gix an additional 1,642,193 shares of restricted common stock of the Company representing 5% of the Fully Diluted Share Capital immediately following the Closing Date.

On July 24, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware reflecting its name change from Virtual Crypto Technologies, Inc. to Viewbix Inc. to reflect its new operations and business focus and, effective on August 7, 2019, FINRA approved the Registrant’s name change and its trading symbol was changed from “VRCP” to “VBIX” on the OTCQB.

On the Closing Date, the Company (i) issued 20,281,085 shares of its common stock to Gix in exchange for consideration consisting of consideration for its 99.83% holdings in Viewbix Israel, and (ii) 3,434,889 shares of its common stock to holders of convertible notes, which were issued by the Company prior to the Reverse Recapitalization, and which were converted upon the Closing Date. The shares of common stock were issued under Regulation S. The Company also issued a total of 7,298,636 warrants to Gix to purchase the Company’s common stock, whereby (i) 3,649,318 of such warrants were issued with an exercise price of $0.48, and (ii) 3,649,318 of such warrants were issued with an exercise price of $0.80.

As a result of the Recapitalization Transaction, Viewbix Israel became a subsidiary of the Company. As the shareholders of Viewbix Israel received the largest ownership interest in the Company, Viewbix Israel was determined to be the “accounting acquirer” in the Recapitalization Transaction. As a result, the historical financial statements of the Company were replaced with the historical financial statements of Viewbix Israel. The number of shares prior to the reverse recapitalization have been retroactively adjusted based on the equivalent number of shares received by the accounting acquirer in the Recapitalization Transaction.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 1: GENERAL (Cont.)

Organizational Background (Cont.)

The Company and its subsidiaries are collectively referred to as the “Company”. Viewbix Israel was incorporated on February 2006 in Israel. The Company has developed an interactive video platform based on Software as a Service (“SaaS”) business model with interactive elements, and the ability to collect and analyze information about each interactive action performed during the viewing of the video clip. The interactive elements and information gathered, allowing the advertiser to analyze user viewing habits and optimize real-time throughout the campaign while increasing the effectiveness of online and live video advertising.

On January 1, 2020, the Company announced certain cost reduction measures due the Company not achieving certain revenues goals.

Emerald Medical Applications Ltd.

On March 16, 2015, Zaxis and Emerald Israel executed a share exchange agreement, which closed on July 14, 2015, and Emerald Israel became the Company’s wholly-owned subsidiary. Emerald Israel was engaged in the business of developing Emerald Israel’s DermaCompare technology and the development, sale and service of imaging solutions utilizing its DermaCompare software for use in derma imaging and analytics for the detection of skin cancer. On January 29, 2018, the Company ceased the DermaCompare operations of its former subsidiary.

On May 2, 2018, the District Court of Lod, Israel issued a winding-up order for Emerald Israel and appointed an Israeli attorney as special executor for Emerald Israel.

Virtual Crypto Technologies Ltd.

On January 17, 2018, the Company formed a new wholly-owned subsidiary under the laws of the State of Israel, Virtual Crypto Technologies Ltd. (the “VCT Israel”), to develop and market software and hardware products facilitating, allowing and supporting purchase and/or sale of cryptocurrencies through ATMs, tablets, personal computers (“PCs”) and/or mobile devices.

VCT Israel ceased its business operation prior to consummation of the Recapitalization Transaction. On January 27, 2020, Virtual Crypto Israel was sold to a third party for NIS 50,000 ($14,459).

Stock Subscription Agreement and Loan Agreement

On December 18, 2020, the Company entered into a Stock Subscription Agreement (the “Subscription”) with certain investors (the “Investors”) in connection with the sale and issuance of an aggregate of 3,000,000 shares of Common Stock, at a purchase price of $0.01 per share, and for an aggregate purchase price of $30,000. In addition, and on the same date, the Company entered into a Loan Agreement (the “Loan”) with the Investors, pursuant to which the Investors lent an aggregate of $69,000 (the “Principal Amount”). In accordance with the terms of the Loan, the Company repaid the interest on the Principal Amount (8% compounded annually) to the Investors in the form of an issuance of an aggregate of 552,000 shares of Common Stock, at a price per share of $0.01. The shares of Common Stock were issued to the Investors pursuant to Regulation S of the Securities Act of 1933, as amended.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 1: GENERAL (Cont.)

Going Concern

The Company has incurred $159 in net loss for the six months ended June 30 2021 has $2,237 stockholders’ deficit as of June 30, 2021 and $2,078 in total stockholders’ deficit as of December 31, 2020. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through utilization of its current financial resources and through additional raises of capital.

Such conditions raise substantial doubts about the Company’s ability to continue as a going concern. Management’s plan includes raising funds from outside potential investors. However, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to meet its objectives. These financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern.

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation:

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary and were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

All intercompany accounts and transactions have been eliminated in consolidation.

Unaudited Interim Financial Information

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2020 and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 16, 2021 (the “2020 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented ..The results for the three months ended June 30, 2021 are not necessarily indicative of the results for the year ending December 31, 2021, or for any future period.

As of June 30, 2021, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2020 Annual Report.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 3: OTHER ACCOUNTS RECEIVABLES

Composition:

	As of June 30		As of December 31
	2021		2020
Government authorities	$	15	$	20
		15		20

NOTE 4: OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Composition:

	As of June 30		As of December 31
	2021		2020
Other payables	$	47	$	47
Accrued liabilities		152		130
	$	199	$	177

NOTE 5: PAYABLE TO PARENT COMPANY

Balances:

	As of June 30		As of December 31
	2021		2020
Gix – Parent Company Payable	$	2,171	$	2,054

As part of the agreement with Gix, the parties agreed to have the Company’s operations outsourced to Gix from the agreement date and until the acquisition is consummated. The following terms were included in the agreement pursuant to the above:

(a)	From May 2018 all of the Company’s employees will become employees of Gix.
(b)	Between the periods of May 2018 to October 2018, Gix will pay the full expenses of the employees as well as other related expenses.
(c)	From November 2018 until to the Closing Date, the employees transferred from the Company to Gix will dedicate half of their time to the Company’s operations and correspondingly 50% of the costs to be incurred by Gix in respect of these employees are to be charged to the Company.

From the closing date, the actual expenses incurred by Gix related to the Company will be charged to the Company. No amounts were paid by the Company to Gix during 2021 and 2020.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 6: SHORT TERM LOAN

On December 18, 2020, the Company entered into the Loan and Subscription with certain Investors as described in note 1e, pursuant to which the Investors lent the Principal Amount. In accordance with the terms of the Loan, the Company prepaid the interest on the Principal Amount of 8% compounded annually to the Investors as an issuance of 552,000 shares of Common Stock, at a price per share of $0.01. Under the Stock Subscription Agreement, the Investors transferred an amount of $ 30,587 to the Company as consideration for the issued shares.

The Company allocated the total proceeds in respect of the shares issued and the Loan extended based on its relative fair values. As a result of the allocation, a discount of $19 was recorded on the loan. The discount is amortized over the term of the loan as finance expense.

The allocation of the proceeds to the fair value distribution of the liability and equity components on the transactions date was as follows:

Instrument	Fair Value		% of total fair		Allocated amount
Short term loan and prepaid interest		55,200		49.45		49,246
Investment in the company’s shares		54,000		50.55		50,340
Total		109,200		100		99,586

The composition of short term loan balance as of the transaction is as follows:

	As of June 30 2021			As of December 31 2020
Short term loan	$	69		$	69
Discount on Short term loan		(10	)		(19	)
Short term loan, Net	$	59		$	50

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 7: STOCKHOLDERS’ DEFICIT

Stockholders’ deficit.

Composition:

	As of June 30				As of December 31
	2021				2020
	Authorized		Issued and outstanding		Authorized		Issued and outstanding
	Unaudited
	Number of shares
Common Stock		490,000,000		34,753,669		490,000,000		34,753,669

Common Stock:

Common stock confers the right to participate in the general meetings, to one vote per share for any purpose, to an equal part, on share basis, in distribution of dividends and to equally participate, on share basis, in distribution of excess of assets and funds from the Company and they shall not confer other privileges unless otherwise provided by law. Some investors have standard anti-dilutive rights, registration rights, and information and representation rights.

On December 18, 2020, the Company entered into the Subscription with the Investors in connection with the sale and issuance of an aggregate of 3,000,000 shares of Common Stock, at a purchase price of $0.01 per share, and for an aggregate purchase price of $30,000. In addition, and on the same date, the Company entered into the Loan with the Investors, pursuant to which the Investors lent the Principal Amount. In accordance with the terms of the Loan, the Company repaid the interest on the Principal Amount, 8% compounded annually to the Investors, in the form of an issuance of an aggregate of 552,000 shares of Common Stock, at a price per share of $0.01. The shares of Common Stock were issued to the Investors pursuant to Regulation S of the Securities Act of 1933, as amended.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 7: STOCKHOLDERS’ DEFICT (Cont.)

Share Exchange

As detailed in Note 1, as part of the Recapitalization Transaction in July 2019, the Company issued 30,928,620 common shares in exchange for 99.83% of the issued and outstanding common stock and all the preferred shares of Viewbix Israel. The number of shares prior to the reverse capitalization have been retroactively adjusted based on the equivalent number of shares received by the accounting acquirer in the Recapitalization Transaction.

Warrants

The following table summarizes information of outstanding warrants as of June 30, 2021:

	Warrants		Warrant Term	Exercise Price		Exercisable
Class J Warrants		3,649,318	July 2029		0.48		3,649,318
Class K Warrants		3,649,318	July 2029		0.80		3,649,318

Additionally, in connection with the Share Exchange Agreement, upon the earlier of: (a) the launch of a live video product to an American consumer in the United States by Viewbix Israel, or (b) the launch of an interactive television product to an American consumer in the United States by Viewbix Israel, the Company will issue to Gix an additional 1,642,193 shares of restricted common stock of the Company. All of the Company’s warrants meet the US GAAP criteria for equity classification. During January and March 2020, 50,000 class H warrants expired. During January 2020, 38,095 class I warrants expired. During April 2020, 142,857 Class G warrants expired.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 8: COMMITMENTS AND CONTINGENCIES –

In June 2017, a lawsuit was filed by a former CEO of the Company with the Tel Aviv District Court (the “Tel Aviv Court”) against the Company claiming certain damages in the total amount of $225, under the assertion of wrongful termination by the Company and Emerald Israel. The Company filed its response with the Tel Aviv Court in October of 2017. The dispute was initially heard by the Tel Aviv Court on February 13, 2020. In a supplemental hearing on February 11, 2021 the former CEO provided data regarding his claims. On March 11, 2021 the former CEO filed his summaries. The Company’s summaries filed on May, 2021. On June 3, 2021, and after the summaries were filed, the lawsuit against Emerald Israel was dismissed by the Tel Aviv Court.

NOTE 9: FINANCIAL (EXPENSES) INCOME, NET

Composition:

	For the six months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(4	)
Exchange rate differences		(2	)		(4	)
Other		(8	)		4
		(11	)		(4	)

	For the three months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(2	)
Exchange rate differences		(3	)		(44	)
Other		-			14
		(4	)		(32	)

NOTE 10: TAXES ON INCOME

A. Tax rates applicable to the income of the Company:

Viewbix Israel are taxed according to Israeli tax laws. The Israeli corporate tax rate is 23% in the years 2019 and onwards.

Viewbix Inc. is taxed according to U.S. tax laws. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which among other provisions, reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018.

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VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 10: TAXES ON INCOME (Cont.)

B. Deferred income taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows:

	As of June 30			As of December 31
	2021			2020
Deferred R&D expenses	$	16		$	114
Operating loss carryforward		32,295			32,256
	$	32,311		$	32,370
Net deferred tax asset before valuation allowance	$	7,062		$	7,076
Valuation allowance		(7,062	)		(7,076	)
Net deferred tax asset	$	-		$	-

As of June 30, 2020, the Company has provided valuation allowances of $7,062 in respect of deferred tax assets resulting from tax loss carryforward and other temporary differences. Management currently believes that because the Company has a history of losses, it is more likely than not that the deferred tax regarding the loss carryforward and other temporary differences will not be realized in the foreseeable future.

C. Available carryforward tax losses:

As of June 30, 2021, Viewbix Israel incurred operating losses in Israel of approximately $13,801 which may be carried forward and offset against taxable income in the future for an indefinite period.

As of June 30, 2021, the Company generated net operating losses in the U.S. of approximately $18,494. Net operating losses in the U.S. are available through 2035. Utilization of U.S. net operating losses may be subject to substantial annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

-18-

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 10: TAXES ON INCOME (Cont.)

D. Loss (income) from continuing operations, before taxes on income, consists of the following:

	For the six months ended June 30				For the three months ended June 30
		2021		2020		2021		2020
USA	$	42	$	10	$	15	$	5
Israel		114		255		61		88
	$	156	$	265	$	76	$	93

NOTE 11: LOSS PER SHARE-BASIC AND DILUTED

Composition:

	For the six months ended June 30				For the three months ended June 30
	2021		2020		2021		2020
Basic and diluted:
Net loss attributable to ordinary stockholders		159		267		79		93
Weighted-average common stock		34,753,669		31,201,669		34,753,669		31,201,669
Loss per share-basic and diluted		0.005		0.009		0.002		0.003

-19-

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 12: COVID-19 PANDEMIC IMPLICATIONS

The COVID-19 pandemic, which originated in China in late 2019, has since spread across the globe and affected the economic condition of most, if not all, countries, including the United States, Israel and many countries in Europe. On March 11, 2020, the World Health Organization declared the outbreak a pandemic. While COVID-19 is still spreading and the final implications of the pandemic are difficult to estimate at this stage, it is clear that it has affected the lives of a large portion of the global population. As of June 30, 2021, the pandemic has caused repeated states of emergency to be declared in various countries, ongoing and extended travel restrictions have been imposed for several months, strict quarantines rules have been established and maintained for an extended period of time in a plethora of jurisdictions and various institutions and companies have been closed and rendered bankrupt. The Company is actively monitoring the pandemic and is taking any necessary measures to respond to the situation in cooperation with the various stakeholders. Due to the uncertainty surrounding the COVID-19 pandemic, the Company will continue to assess the situation, including government-imposed restrictions, market by market. It is not possible at this time to estimate the full impact that the COVID-19 pandemic could have on the Company’s business, the continued spread of COVID-19, and any additional measures taken by governments, health officials or by the Company in response to such spread, could have on the Company’s business, results of operations and financial condition. The COVID-19 pandemic and mitigation measures have also negatively impacted global economic conditions, which, in turn, could adversely affect the Company’s business, results of operations and financial condition. The extent to which the COVID-19 outbreak continues to impact the Company’s financial condition will depend on future developments that are highly uncertain and cannot be predicted, including new government actions or restrictions, new information that may emerge concerning the severity, longevity and impact of the COVID-19 pandemic on economic activity.

-20-

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS

Special Note Regarding Forward-Looking Statements

The following management’s discussion and analysis section should be read in conjunction with the Company’s unaudited financial statements as of June 30, 2021 and 2020, and the related statements of comprehensive loss, statement of changes in stockholders’ equity (deficit) and statements of cash flows for the three months then ended, and the related notes thereto contained in this Quarterly Report on Form 10-Q (this “Quarterly Report”).

Forward-Looking Statements

This management discussion and analysis section contains forward-looking statements, such as statements of the Company’s plans, objectives, expectations and intentions. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect” and the like, and/or future tense or conditional constructions “will,” “may,” “could,” “should,” etc., or similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements are based on information we have when those statements are made or our management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

● the short-term and long-term implications caused by our recent cost reduction efforts, including, but not limited to, our growing inability to secure and maintain customers on the basis of insufficient capital resources;

● sustained turnover of key management;

● our history of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the adequacy of our liquidity to pursue our complete business objectives, and substantial doubt regarding our ability to continue as a going concern;

● our need to raise additional capital to meet our business requirements in the future and such capital raising may be costly or difficult to obtain and could dilute out stockholders’ ownership interests;

● the impact of the COVID-19 pandemic on our business plan and the global economy;

● our ability to adequately protect our intellectual property; and

● entry of new competitors and products and potential technological obsolescence of our products.

The foregoing does not represent an exhaustive list of matters that may be covered by the forward-looking statements contained herein or risk factors that we are faced with which may cause our actual results to differ from those anticipated in our forward-looking statements. For a discussion of these and other risks that relate to our business and investing in our common stock, you should carefully review the risks and uncertainties described in this Quarterly Report on Form 10-Q, and those contained in section captioned “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2021 (the “Annual Report”). The Company’s actual results could differ materially from those contemplated in these forward-looking statements as a result of these factors. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this Quarterly Report.

Overview and background

Viewbix Inc. (f/k/a Virtual Crypto Technologies, Inc., f/k/a Emerald Medical Applications Corp.) (the “Registrant” or the “Company”) is an interactive video technology and data platform that provides its clients with deep insights into their video marketing performance as well as the effectiveness of its messaging.

-21-

Recent Developments

Share Exchange Agreement

On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Gix Internet Ltd. (f/k/a Algomizer Ltd.) (TASE:GIX), a company organized under the laws of the State of Israel (“Gix”), pursuant to which on July 25, 2019 (the “Closing Date”), Gix assigned, transferred and delivered its 99.83% holdings in Viewbix Ltd. (“Viewbix Israel”) to the Company in exchange for shares of restricted common stock, par value $0.0001 per share of the Company (the “Common Stock”), representing 65% of the issued and outstanding share capital of the Company on a fully diluted basis as of the Closing Date, following the conversion of certain convertible notes of the Company and excluding certain warrants to purchase shares of Common Stock expiring in 2020 and additional warrants as further described below (the “Fully Diluted Share Capital”). In addition, upon the earlier of: (a) the launch of a live video product to an American consumer in the United States by Viewbix Israel, or (b) the launch of an interactive television product to an American consumer in the United States by Viewbix Israel, the Company agreed to issue to Gix an additional 1,642,193 shares of restricted Common Stock representing 5% of the Fully Diluted Share Capital immediately following the Closing Date.

On July 24, 2019, and in connection with the Share Exchange Agreement, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware reflecting its name change from Virtual Crypto Technologies, Inc. to Viewbix Inc. to reflect its new operations and business focus. On August 7, 2019, FINRA approved the Registrant’s name change and its trading symbol was changed from “VRCP” to “VBIX” on the OTCQB.

On the Closing Date, (i) the Company issued 20,281,085 shares of Common Stock to Gix in exchange for consideration consisting of 99.83% holdings in Viewbix Israel, and (ii) convertible notes representing 3,434,889 shares of Common Stock then currently issued to holders were converted. The shares of Common Stock were issued under Regulation S. The Company also issued a total of 7,298,636 warrants to purchase shares of Common Stock to Gix, whereby (a) 3,649,318 of such warrants to purchase shares of Common Stock were issued with an exercise price of $0.48, and (b) 3,649,318 of such warrants to purchase shares of Common Stock were issued with an exercise price of $0.80.

Following the Closing Date, Viewbix Israel became a subsidiary of the Registrant. Viewbix Israel was incorporated in February 2006 in Israel.

On June 6, 2020, Algomizer Ltd. changed its name to Gix Internet Ltd.

On January 1, 2020, the Company announced certain cost reduction measures due the Company not achieving certain revenues goals. In connection with these cost reduction measures, on January 1, 2020, Mr. Jonathan Stefansky, the Company’s then chief executive officer and member of the Company’s board of directors, tendered his resignation from the Board, and on the same date the sides reached a mutual understanding whereby Mr. Stefansky would step down as chief executive officer, effective March 1, 2020. On the same date, the Company and Mr. Hillel Scheinfeld, the Company’s then chief operating officer, reached a similar mutual understanding and agreed he would step down, also effective March 1, 2020. Mr. Amihay Hadad, the Company’s chief financial officer, was appointed to the Company’s board of directors on January 1, 2020, and, effective as of March 1, 2020, he was also appointed as the Company’s chief executive officer as well.

On January 27, 2020, the Company entered into an agreement with a third-party to sell Virtual Crypto Technologies Ltd. for NIS 50,000 ($14, 459), which transaction was consummated on February 12, 2020.

Results of Operations

Results of Operations During the Three Months Ended June 30, 2021 as Compared to the Three Months Ended June 30, 2020

Our revenues were $17 thousand for the three months ended June 30, 2021, compared to $33 thousand during the same period in the prior year. The reason for the decrease in the three months ended June 30, 2021 is due to the fact that beginning on January 1, 2020, the Company announced and began implementing certain cost reduction measures.

Our research and development expenses were $12 thousand for the three months ended June 30, 2021, as compared to $0 thousand during the same period in the prior year. The reason for the increase in the three months ended June 30, 2021 is due to the fact that the Company hired a new research and development team during the second half of 2020.

Our general and administrative expenses decreased to $79 thousand for the three months ended June 30, 2021 as compared to $94 thousand during the same period in the prior year. The reason for the decrease in the three months ended June 30, 2021 is that beginning on January 1, 2020, the Company announced and began implementing certain cost reduction measures.

-22-

Our net financial expenses was $4 thousand for the three months ended June 30, 2021, compared to net financial expenses of $32 thousand during the same period in the prior year. The reason for the decrease in the three months ended June 30, 2021 is due to the US dollar exchange rate decrease during the three months ended June 30, 2021 as compared the same period in the prior year.

Our tax on income was $1 thousand for the three months ended June 30, 2021, slightly increase as compared to $0 thousand during the same period in the prior year.

Results of Operations During the Six Months Ended June 30, 2021 as Compared to the Six Months Ended June 30, 2020

Our revenues were $25 thousand for the six months ended June 30, 2021, compared to $70 thousand during the same period in the prior year. The reason for the decrease in the six months ended June 30, 2021 is due to the fact that beginning on January 1, 2020, the Company announced and began implementing certain cost reduction measures.

Our cost of revenues were $0 thousand for the six months ended June 30, 2021, which is a slight decrease compared to $4 thousand during the same period in the prior year.

Our research and development expenses were $28 thousand for the six months ended June 30, 2021, as compared to $59 thousand during the same period in the prior year. The reason for the decrease in the six months ended June 30, 2021 is due to the fact that beginning on January 1, 2020, the Company announced and began implementing certain cost reduction measures.

Our selling and marketing expenses were $2 thousand for the six months ended June 30, 2021, which is a slight decrease as compared to $7 thousand during the same period in the prior year.

Our general and administrative expenses increased to $142 thousand for the six months ended June 30, 2021 as compared to $269 thousand during the same period in the prior year. The reason for the decrease in the six months ended June 30, 2021 is due to the fact that beginning on January 1, 2020, the Company announced and began implementing certain cost reduction measures.

Our net financial expenses was $11 thousand for the six months ended June 30, 2021, compared to net financial expenses of $4 thousand during the same period in the prior year. The reason for the financial increase in the six months ended June 30, 2021 is due to the US dollar exchange rate increase during the six months ended June 30, 2021 as compared the same period in the prior year.

Our tax on income was $1 thousand for the six months ended June 30, 2021, slightly decreased as compared to $2 thousand during the same period in the prior year.

Liquidity and Capital Resources

As of June 30, 2021, we had current assets of $192 thousand consisting of $126 thousand in cash and cash equivalents, $35 thousand in trade receivables, $15 thousand in other accounts receivables and, $16 thousand in prepaid expenses.

As of June 30, 2021, we had $2,429 thousand in current liabilities consisting of $199 in other accounts payable and accrued liabilities, $59 Short term loan, and $2,171 payable to our parent company.

As of December 31, 2020, we had current assets of $225 thousand consisting of $148 thousand in cash and cash equivalents, $20 thousand in other receivables, $15 thousand in trade receivables and $42 thousand in prepaid expenses. We had $2,303 thousand in current liabilities, which consisted of $177 in accounts payable and accrued liabilities, $22 trade payable, $2,054 payable to our parent company and $50 in Short term loan.

We had a negative working capital of $2,237 thousand and $2,078 thousand as of June 30, 2021 and December 31, 2020, respectively.

-23-

During the three months ended June 30, 2021, we had negative cash flow from operations of $8 thousand, which was mainly the result of a net loss of $79 thousand, offset by increase in working capital of $71.

During the six months ended June 30, 2021, we had negative cash flow from operations of $22 thousand, , which was mainly the result of a net loss of $159 thousand, offset by increase in working capital of $137.

There are no limitations in the Company’s Certificate of Incorporation on the Company’s ability to borrow funds or raise funds through the issuance of shares of its common stock to affect a business combination. The Company’s limited resources and lack of having cash-generating business operations may make it difficult to borrow funds or raise capital. The Company’s limitations to borrow funds or raise funds through the issuance of restricted capital stock required to effect or facilitate a business combination may have a material adverse effect on the Company’s financial condition and future prospects, including the ability to complete a business combination.

Until such time as the Company can generate substantial revenues, the Company expects to finance its cash needs through a combination of the sale of its equity and/or convertible debt securities, debt financing and strategic alliances and collaborations. The Company does not have any committed external source of funds. To the extent that the Company raises additional capital through the sale of its equity and/or convertible debt securities, the ownership interest of its stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of our common stockholders. Debt financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. To the extent that debt financing ultimately proves to be available, any borrowing will subject us to various risks traditionally associated with indebtedness, including the risks of interest rate fluctuations and insufficiency of cash flow to pay principal and interest, including debt of an acquired business. If the Company raises funds through additional collaborations or strategic alliances with third parties, we may have to relinquish valuable rights to our future revenue streams and/or distribution arrangements. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. If the Company is unable to raise additional funds through equity and/or debt financings when needed or on attractive terms, the Company may be required to delay, limit, reduce or terminate the operations of some or all of its business segments.

Going Concern:

The Company has incurred $159 in net losses for the six months ended June 30, 2021, has $2,237 stockholders’ deficit as of June 30, 2021 and $2,078 in total stockholders’ deficit as of December 31, 2020. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through utilization of its current financial resources and through additional raises of capital.

Such conditions raise substantial doubts about the Company’s ability to continue as a going concern. Management’s plan includes raising funds from outside potential investors. However, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to meet its objectives. These financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

As of June 30, 2021, the Company’s chief executive officer and chief financial officer, which is currently the same individual, conducted an evaluation (the “Evaluation”) regarding the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act. Based upon the Evaluation, as required by Rules 13a-15 or 15d-15, the Company’s chief executive officer and chief financial officer concluded that the Company’s disclosure controls and procedures were ineffective as of the end of June 30, 2020, and pursuant to the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013) because of certain material weaknesses.

-24-

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting or in other factors identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during the quarter ended June 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations, except as set forth below. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of the Company, threatened against or affecting the Company, our common stock, our officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect, other than as set forth below.

In June 2017, a lawsuit was filed with the Regional Labor Court in Tel Aviv (the “Tel Aviv Court”) against Emerald Israel, and other defendants, claiming certain damages in the total amount of approximately $225,000, under the assertion of wrongful termination by Emerald Israel. We filed our response with the Tel Aviv Court in October of 2017. The dispute was initially heard by the Tel Aviv Court on February 13, 2020. In a supplemental hearing on February 11, 2021, the plaintiff provided a certified confirmation of payment of approximately $14,668 by the National Insurance Institute of Israel for one month’s prior notice of termination, redemption of 16.8 days of vacation and severance pay. On June 3, 2021, and after the plaintiff and the defendants filed their summaries, the lawsuit against Emerald Israel was dismissed.

ITEM 1A. RISK FACTORS

There have been no material changes from the information set forth in “Item 1A. Risk Factors” in the Form 10-K filed with the SEC on March 16, 2021.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURE

Not applicable.

ITEM 5. OTHER INFORMATION

None.

-25-

ITEM 6. EXHIBITS

(a) The following documents are filed as exhibits to this Quarterly Report or incorporated by reference herein.

Exhibit Number	Description
31.1*	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
32.1**	Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101 SCH	Inline XBRL Taxonomy Extension Schema Document
101 CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101 DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101 LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101 PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*	Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
*	Filed herewith.
**	Furnished herewith.

-26-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	VIEWBIX INC.
	By:	/s/ Amihay Hadad
	Name:	Amihay Hadad
	Title:	Chief Executive Officer and Chief Financial Officer
Date: August 12, 2021		(Principal Executive Officer and Principal Financial Officer)

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

RULE 13a-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Amihay Hadad, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q for the period ended June 30, 2021 of Viewbix Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the year-end covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the year-end presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the year-end in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the year-end covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 12, 2021

/s/ Amihay Hadad

Amihay Hadad

Chief Executive Officer and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Viewbix Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2021, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Amihay Hadad, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Amihay Hadad

Amihay Hadad

Chief Executive Officer and Chief Financial Officer

Viewbix Inc.

August 12, 2021

XML

Cover	6 Months Ended
	Jun. 30, 2021 shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-15746
Entity Registrant Name	VIEWBIX INC.
Entity Central Index Key	0000797542
Entity Tax Identification Number	68-0080601
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	11 Derech Menachem Begin Street
Entity Address, City or Town	Ramat Gan
Entity Address, Country	IL
Entity Address, Postal Zip Code	5268104
City Area Code	+972
Local Phone Number	9-774-1505
Title of 12(b) Security	Common Stock, Par Value $0.0001
Trading Symbol	VBIX
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	34,753,669

XML

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 126	$ 148
Trade receivables	35	15
Other accounts receivable	15	20
Prepaid expenses	16	42
Total current assets	192	225
Total assets	192	225
CURRENT LIABILITIES
Trade payables		22
Other accounts payables and accrued liabilities	199	177
Payable to parent company	2,171	2,054
Short term loan	59	50
Total current liabilities	2,429	2,303
Commitments and contingencies
Share Capital
Common stock of $0.0001 par value - Authorized: 490,000,000 shares; Issued and outstanding: 34,753,669 shares as of December 31, 2020; and June 30, 2021	3	3
Additional paid-in capital	13,073	13,073
Accumulated deficit	(15,313)	(15,154)
Total stockholders’ deficit	(2,237)	(2,078)
Total liabilities and stockholders’ deficit	$ 192	$ 225

XML

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)	Dec. 31, 2020 $ / shares shares
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.0001
Common Stock, Shares Authorized	490,000,000
Common Stock, Shares, Outstanding	34,753,669

XML

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	$ 17	$ 33	$ 25	$ 70
Cost of revenues				4
Gross profit	17	33	25	66
Operating expenses:
Research and development	12		28	59
Selling and marketing			2	7
General and administrative	79	94	142	269
Gain from sale of a subsidiary				(8)
Operating loss	74	61	147	261
Financial expenses, net	(4)	(32)	(11)	(4)
Loss before tax	78	93	158	265
Taxes on income	1		1	2
Net loss	$ 79	$ 93	$ 159	$ 267
Loss per share - basic and diluted	$ 0.002	$ 0.003	$ 0.005	$ 0.009
Weighted average number of common stock outstanding used in the computations of loss per share (in thousands) (*)	34,753,669	31,201,669	34,753,669	31,201,669

XML

Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2019	$ 3	$ 13,015	$ (14,711)	$ (1,693)
Balance, shares at Dec. 31, 2019	31,201,669
Net loss for the period			(267)	(267)
Balance at Jun. 30, 2020	$ 3	13,015	(14,978)	(1,960)
Balance, shares at Jun. 30, 2020	31,201,669
Balance at Mar. 31, 2020	$ 3	13,015	(14,885)	(1,867)
Balance, shares at Mar. 31, 2020	31,201,669
Net loss for the period			(93)	(93)
Balance at Jun. 30, 2020	$ 3	13,015	(14,978)	(1,960)
Balance, shares at Jun. 30, 2020	31,201,669
Balance at Dec. 31, 2020	$ 3	13,073	(15,154)	(2,078)
Balance, shares at Dec. 31, 2020	34,753,669
Net loss for the period			(159)	(159)
Balance at Jun. 30, 2021	$ 3	13,073	(15,313)	(2,237)
Balance, shares at Jun. 30, 2021	34,753,669
Balance at Mar. 31, 2021	$ 3	13,073	(15,234)	(2,158)
Balance, shares at Mar. 31, 2021	34,753,669
Net loss for the period			(79)	(79)
Balance at Jun. 30, 2021	$ 3	$ 13,073	$ (15,313)	$ (2,237)
Balance, shares at Jun. 30, 2021	34,753,669

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 12, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss for the period		$ (79)	$ (93)	$ (159)	$ (267)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation					5
Gain from sale of a subsidiary					(8)
Changes in assets and liabilities:
Decrease (increase) in prepaid expenses		(4)	8	6	14
Decrease (increase) in other receivables		(2)	24	4	106
Increase (decrease) in trade payables		4	(4)		(76)
Financing expenses from short-term loans		6		10
Decrease in other accounts payables			(24)		(39)
Increase in payable to parent company		67	58	117	244
Net cash provided by (used in) operating activities		(8)	(31)	(22)	(21)
Cash flows from investing activities
Cash received from sale of a subsidiary					13
Net cash provided by Investing activities					13
Decrease in cash and cash equivalents and restricted cash		(8)	(31)	(22)	(8)
Cash and cash equivalents and restricted cash at the beginning of the year		134	110	148	87
Cash and cash equivalents and restricted cash at the end of the year		$ 126	$ 79	$ 126	$ 79
Supplemental Cash Flow Information:
Current assets excluding cash and cash equivalents	$ 6
Current liabilities	(1)
Gain from sale of a subsidiary	8
Cash received from the sale of a subsidiary	$ 13

XML

GENERAL

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

GENERAL

NOTE 1: GENERAL

Organizational Background

Viewbix Inc. (formerly known as Virtual Crypto Technologies, Inc.) (the “Company”) was incorporated in the State of Ohio in 1989 under a predecessor name, Zaxis International, Inc. (“Zaxis”). On August 25, 1995, Zaxis merged with a subsidiary of The InFerGene Company, a Delaware corporation, which entity changed its name to Zaxis International, Inc. and the Company was reincorporated in Delaware under the name of Zaxis International, Inc. On December 30, 2014, Zaxis entered into an agreement with Emerald Medical Applications Ltd., a private limited liability company organized under the laws of the State of Israel (“Emerald Israel”).

On June 6, 2020, Algomizer changed its name to Gix Internet Ltd., or Gix.

On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange On February 7, 2019, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Gix Internet Ltd. (TASE:ALMO), a company organized under the laws of the State of Israel (“Gix”), pursuant to which on July 25, 2019 (the “Closing Date”), Gix assigned, transferred and delivered its 99.83% holdings in Viewbix Ltd. (“Viewbix Israel”) to the Company in exchange for shares of restricted common stock of the Company, representing 65% of the issued and outstanding share capital of the Company on a fully diluted basis as of the Closing Date following the conversion of certain convertible notes of the Company and excluding certain warrants to purchase shares of the Common Stock expiring in 2020 and additional warrants as further described below (the “Fully Diluted Share Capital”). In addition, upon the earlier of: (a) the launch of a live video product to an American consumer in the United States by Viewbix Israel, or (b) the launch of an interactive television product to an American consumer in the United States by Viewbix Israel, the Company will issue to Gix an additional 1,642,193 shares of restricted common stock of the Company representing 5% of the Fully Diluted Share Capital immediately following the Closing Date.

On July 24, 2019, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware reflecting its name change from Virtual Crypto Technologies, Inc. to Viewbix Inc. to reflect its new operations and business focus and, effective on August 7, 2019, FINRA approved the Registrant’s name change and its trading symbol was changed from “VRCP” to “VBIX” on the OTCQB.

On the Closing Date, the Company (i) issued 20,281,085 shares of its common stock to Gix in exchange for consideration consisting of consideration for its 99.83% holdings in Viewbix Israel, and (ii) 3,434,889 shares of its common stock to holders of convertible notes, which were issued by the Company prior to the Reverse Recapitalization, and which were converted upon the Closing Date. The shares of common stock were issued under Regulation S. The Company also issued a total of 7,298,636 warrants to Gix to purchase the Company’s common stock, whereby (i) 3,649,318 of such warrants were issued with an exercise price of $0.48, and (ii) 3,649,318 of such warrants were issued with an exercise price of $0.80.

As a result of the Recapitalization Transaction, Viewbix Israel became a subsidiary of the Company. As the shareholders of Viewbix Israel received the largest ownership interest in the Company, Viewbix Israel was determined to be the “accounting acquirer” in the Recapitalization Transaction. As a result, the historical financial statements of the Company were replaced with the historical financial statements of Viewbix Israel. The number of shares prior to the reverse recapitalization have been retroactively adjusted based on the equivalent number of shares received by the accounting acquirer in the Recapitalization Transaction.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 1: GENERAL (Cont.)

Organizational Background (Cont.)

The Company and its subsidiaries are collectively referred to as the “Company”. Viewbix Israel was incorporated on February 2006 in Israel. The Company has developed an interactive video platform based on Software as a Service (“SaaS”) business model with interactive elements, and the ability to collect and analyze information about each interactive action performed during the viewing of the video clip. The interactive elements and information gathered, allowing the advertiser to analyze user viewing habits and optimize real-time throughout the campaign while increasing the effectiveness of online and live video advertising.

On January 1, 2020, the Company announced certain cost reduction measures due the Company not achieving certain revenues goals.

Emerald Medical Applications Ltd.

On March 16, 2015, Zaxis and Emerald Israel executed a share exchange agreement, which closed on July 14, 2015, and Emerald Israel became the Company’s wholly-owned subsidiary. Emerald Israel was engaged in the business of developing Emerald Israel’s DermaCompare technology and the development, sale and service of imaging solutions utilizing its DermaCompare software for use in derma imaging and analytics for the detection of skin cancer. On January 29, 2018, the Company ceased the DermaCompare operations of its former subsidiary.

On May 2, 2018, the District Court of Lod, Israel issued a winding-up order for Emerald Israel and appointed an Israeli attorney as special executor for Emerald Israel.

Virtual Crypto Technologies Ltd.

On January 17, 2018, the Company formed a new wholly-owned subsidiary under the laws of the State of Israel, Virtual Crypto Technologies Ltd. (the “VCT Israel”), to develop and market software and hardware products facilitating, allowing and supporting purchase and/or sale of cryptocurrencies through ATMs, tablets, personal computers (“PCs”) and/or mobile devices.

VCT Israel ceased its business operation prior to consummation of the Recapitalization Transaction. On January 27, 2020, Virtual Crypto Israel was sold to a third party for NIS 50,000 ($14,459).

Stock Subscription Agreement and Loan Agreement

On December 18, 2020, the Company entered into a Stock Subscription Agreement (the “Subscription”) with certain investors (the “Investors”) in connection with the sale and issuance of an aggregate of 3,000,000 shares of Common Stock, at a purchase price of $0.01 per share, and for an aggregate purchase price of $30,000. In addition, and on the same date, the Company entered into a Loan Agreement (the “Loan”) with the Investors, pursuant to which the Investors lent an aggregate of $69,000 (the “Principal Amount”). In accordance with the terms of the Loan, the Company repaid the interest on the Principal Amount (8% compounded annually) to the Investors in the form of an issuance of an aggregate of 552,000 shares of Common Stock, at a price per share of $0.01. The shares of Common Stock were issued to the Investors pursuant to Regulation S of the Securities Act of 1933, as amended.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 1: GENERAL (Cont.)

Going Concern

The Company has incurred $159 in net loss for the six months ended June 30 2021 has $2,237 stockholders’ deficit as of June 30, 2021 and $2,078 in total stockholders’ deficit as of December 31, 2020. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through utilization of its current financial resources and through additional raises of capital.

Such conditions raise substantial doubts about the Company’s ability to continue as a going concern. Management’s plan includes raising funds from outside potential investors. However, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable to the Company or will provide the Company with sufficient funds to meet its objectives. These financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern.

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SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation:

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary and were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

All intercompany accounts and transactions have been eliminated in consolidation.

Unaudited Interim Financial Information

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2020 and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 16, 2021 (the “2020 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented ..The results for the three months ended June 30, 2021 are not necessarily indicative of the results for the year ending December 31, 2021, or for any future period.

As of June 30, 2021, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2020 Annual Report.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

OTHER ACCOUNTS RECEIVABLES

6 Months Ended

Jun. 30, 2021

Other Accounts Receivables

OTHER ACCOUNTS RECEIVABLES

NOTE 3: OTHER ACCOUNTS RECEIVABLES

Composition:

	As of June 30		As of December 31
	2021		2020
Government authorities	$	15	$	20
		15		20

XML

OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 4: OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Composition:

	As of June 30		As of December 31
	2021		2020
Other payables	$	47	$	47
Accrued liabilities		152		130
	$	199	$	177

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PAYABLE TO PARENT COMPANY

6 Months Ended

Jun. 30, 2021

Payable To Parent Company

PAYABLE TO PARENT COMPANY

NOTE 5: PAYABLE TO PARENT COMPANY

Balances:

	As of June 30		As of December 31
	2021		2020
Gix – Parent Company Payable	$	2,171	$	2,054

As part of the agreement with Gix, the parties agreed to have the Company’s operations outsourced to Gix from the agreement date and until the acquisition is consummated. The following terms were included in the agreement pursuant to the above:

(a)	From May 2018 all of the Company’s employees will become employees of Gix.
(b)	Between the periods of May 2018 to October 2018, Gix will pay the full expenses of the employees as well as other related expenses.
(c)	From November 2018 until to the Closing Date, the employees transferred from the Company to Gix will dedicate half of their time to the Company’s operations and correspondingly 50% of the costs to be incurred by Gix in respect of these employees are to be charged to the Company.

From the closing date, the actual expenses incurred by Gix related to the Company will be charged to the Company. No amounts were paid by the Company to Gix during 2021 and 2020.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

SHORT TERM LOAN

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

SHORT TERM LOAN

NOTE 6: SHORT TERM LOAN

On December 18, 2020, the Company entered into the Loan and Subscription with certain Investors as described in note 1e, pursuant to which the Investors lent the Principal Amount. In accordance with the terms of the Loan, the Company prepaid the interest on the Principal Amount of 8% compounded annually to the Investors as an issuance of 552,000 shares of Common Stock, at a price per share of $0.01. Under the Stock Subscription Agreement, the Investors transferred an amount of $ 30,587 to the Company as consideration for the issued shares.

The Company allocated the total proceeds in respect of the shares issued and the Loan extended based on its relative fair values. As a result of the allocation, a discount of $19 was recorded on the loan. The discount is amortized over the term of the loan as finance expense.

The allocation of the proceeds to the fair value distribution of the liability and equity components on the transactions date was as follows:

Instrument	Fair Value		% of total fair		Allocated amount
Short term loan and prepaid interest		55,200		49.45		49,246
Investment in the company’s shares		54,000		50.55		50,340
Total		109,200		100		99,586

The composition of short term loan balance as of the transaction is as follows:

	As of June 30 2021			As of December 31 2020
Short term loan	$	69		$	69
Discount on Short term loan		(10	)		(19	)
Short term loan, Net	$	59		$	50

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

STOCKHOLDERS’ DEFICIT

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

STOCKHOLDERS’ DEFICIT

NOTE 7: STOCKHOLDERS’ DEFICIT

Stockholders’ deficit.

Composition:

	As of June 30				As of December 31
	2021				2020
	Authorized		Issued and outstanding		Authorized		Issued and outstanding
	Unaudited
	Number of shares
Common Stock		490,000,000		34,753,669		490,000,000		34,753,669

Common Stock:

Common stock confers the right to participate in the general meetings, to one vote per share for any purpose, to an equal part, on share basis, in distribution of dividends and to equally participate, on share basis, in distribution of excess of assets and funds from the Company and they shall not confer other privileges unless otherwise provided by law. Some investors have standard anti-dilutive rights, registration rights, and information and representation rights.

On December 18, 2020, the Company entered into the Subscription with the Investors in connection with the sale and issuance of an aggregate of 3,000,000 shares of Common Stock, at a purchase price of $0.01 per share, and for an aggregate purchase price of $30,000. In addition, and on the same date, the Company entered into the Loan with the Investors, pursuant to which the Investors lent the Principal Amount. In accordance with the terms of the Loan, the Company repaid the interest on the Principal Amount, 8% compounded annually to the Investors, in the form of an issuance of an aggregate of 552,000 shares of Common Stock, at a price per share of $0.01. The shares of Common Stock were issued to the Investors pursuant to Regulation S of the Securities Act of 1933, as amended.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 7: STOCKHOLDERS’ DEFICT (Cont.)

Share Exchange

As detailed in Note 1, as part of the Recapitalization Transaction in July 2019, the Company issued 30,928,620 common shares in exchange for 99.83% of the issued and outstanding common stock and all the preferred shares of Viewbix Israel. The number of shares prior to the reverse capitalization have been retroactively adjusted based on the equivalent number of shares received by the accounting acquirer in the Recapitalization Transaction.

Warrants

The following table summarizes information of outstanding warrants as of June 30, 2021:

	Warrants		Warrant Term	Exercise Price		Exercisable
Class J Warrants		3,649,318	July 2029		0.48		3,649,318
Class K Warrants		3,649,318	July 2029		0.80		3,649,318

Additionally, in connection with the Share Exchange Agreement, upon the earlier of: (a) the launch of a live video product to an American consumer in the United States by Viewbix Israel, or (b) the launch of an interactive television product to an American consumer in the United States by Viewbix Israel, the Company will issue to Gix an additional 1,642,193 shares of restricted common stock of the Company. All of the Company’s warrants meet the US GAAP criteria for equity classification. During January and March 2020, 50,000 class H warrants expired. During January 2020, 38,095 class I warrants expired. During April 2020, 142,857 Class G warrants expired.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 8: COMMITMENTS AND CONTINGENCIES –

In June 2017, a lawsuit was filed by a former CEO of the Company with the Tel Aviv District Court (the “Tel Aviv Court”) against the Company claiming certain damages in the total amount of $225, under the assertion of wrongful termination by the Company and Emerald Israel. The Company filed its response with the Tel Aviv Court in October of 2017. The dispute was initially heard by the Tel Aviv Court on February 13, 2020. In a supplemental hearing on February 11, 2021 the former CEO provided data regarding his claims. On March 11, 2021 the former CEO filed his summaries. The Company’s summaries filed on May, 2021. On June 3, 2021, and after the summaries were filed, the lawsuit against Emerald Israel was dismissed by the Tel Aviv Court.

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FINANCIAL (EXPENSES) INCOME, NET

6 Months Ended

Jun. 30, 2021

Financial Expenses Income Net

FINANCIAL (EXPENSES) INCOME, NET

NOTE 9: FINANCIAL (EXPENSES) INCOME, NET

Composition:

	For the six months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(4	)
Exchange rate differences		(2	)		(4	)
Other		(8	)		4
		(11	)		(4	)

	For the three months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(2	)
Exchange rate differences		(3	)		(44	)
Other		-			14
		(4	)		(32	)

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TAXES ON INCOME

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

TAXES ON INCOME

NOTE 10: TAXES ON INCOME

A. Tax rates applicable to the income of the Company:

Viewbix Israel are taxed according to Israeli tax laws. The Israeli corporate tax rate is 23% in the years 2019 and onwards.

Viewbix Inc. is taxed according to U.S. tax laws. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which among other provisions, reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 10: TAXES ON INCOME (Cont.)

B. Deferred income taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows:

	As of June 30			As of December 31
	2021			2020
Deferred R&D expenses	$	16		$	114
Operating loss carryforward		32,295			32,256
	$	32,311		$	32,370
Net deferred tax asset before valuation allowance	$	7,062		$	7,076
Valuation allowance		(7,062	)		(7,076	)
Net deferred tax asset	$	-		$	-

As of June 30, 2020, the Company has provided valuation allowances of $7,062 in respect of deferred tax assets resulting from tax loss carryforward and other temporary differences. Management currently believes that because the Company has a history of losses, it is more likely than not that the deferred tax regarding the loss carryforward and other temporary differences will not be realized in the foreseeable future.

C. Available carryforward tax losses:

As of June 30, 2021, Viewbix Israel incurred operating losses in Israel of approximately $13,801 which may be carried forward and offset against taxable income in the future for an indefinite period.

As of June 30, 2021, the Company generated net operating losses in the U.S. of approximately $18,494. Net operating losses in the U.S. are available through 2035. Utilization of U.S. net operating losses may be subject to substantial annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

NOTE 10: TAXES ON INCOME (Cont.)

D. Loss (income) from continuing operations, before taxes on income, consists of the following:

	For the six months ended June 30				For the three months ended June 30
		2021		2020		2021		2020
USA	$	42	$	10	$	15	$	5
Israel		114		255		61		88
	$	156	$	265	$	76	$	93

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LOSS PER SHARE-BASIC AND DILUTED

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

LOSS PER SHARE-BASIC AND DILUTED

NOTE 11: LOSS PER SHARE-BASIC AND DILUTED

Composition:

	For the six months ended June 30				For the three months ended June 30
	2021		2020		2021		2020
Basic and diluted:
Net loss attributable to ordinary stockholders		159		267		79		93
Weighted-average common stock		34,753,669		31,201,669		34,753,669		31,201,669
Loss per share-basic and diluted		0.005		0.009		0.002		0.003

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

COVID-19 PANDEMIC IMPLICATIONS

6 Months Ended

Jun. 30, 2021

Risks and Uncertainties [Abstract]

COVID-19 PANDEMIC IMPLICATIONS

NOTE 12: COVID-19 PANDEMIC IMPLICATIONS

The COVID-19 pandemic, which originated in China in late 2019, has since spread across the globe and affected the economic condition of most, if not all, countries, including the United States, Israel and many countries in Europe. On March 11, 2020, the World Health Organization declared the outbreak a pandemic. While COVID-19 is still spreading and the final implications of the pandemic are difficult to estimate at this stage, it is clear that it has affected the lives of a large portion of the global population. As of June 30, 2021, the pandemic has caused repeated states of emergency to be declared in various countries, ongoing and extended travel restrictions have been imposed for several months, strict quarantines rules have been established and maintained for an extended period of time in a plethora of jurisdictions and various institutions and companies have been closed and rendered bankrupt. The Company is actively monitoring the pandemic and is taking any necessary measures to respond to the situation in cooperation with the various stakeholders. Due to the uncertainty surrounding the COVID-19 pandemic, the Company will continue to assess the situation, including government-imposed restrictions, market by market. It is not possible at this time to estimate the full impact that the COVID-19 pandemic could have on the Company’s business, the continued spread of COVID-19, and any additional measures taken by governments, health officials or by the Company in response to such spread, could have on the Company’s business, results of operations and financial condition. The COVID-19 pandemic and mitigation measures have also negatively impacted global economic conditions, which, in turn, could adversely affect the Company’s business, results of operations and financial condition. The extent to which the COVID-19 outbreak continues to impact the Company’s financial condition will depend on future developments that are highly uncertain and cannot be predicted, including new government actions or restrictions, new information that may emerge concerning the severity, longevity and impact of the COVID-19 pandemic on economic activity.

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SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation:

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary and were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

All intercompany accounts and transactions have been eliminated in consolidation.

Unaudited Interim Financial Information

Unaudited Interim Financial Information

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited financial statements as of and for the year ended December 31, 2020 and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 16, 2021 (the “2020 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented ..The results for the three months ended June 30, 2021 are not necessarily indicative of the results for the year ending December 31, 2021, or for any future period.

As of June 30, 2021, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2020 Annual Report.

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

U.S. dollars in thousands (except share data)

XML

OTHER ACCOUNTS RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2021

Other Accounts Receivables

SCHEDULE OF OTHER ACCOUNTS RECEIVABLES COMPOSITION

Composition:

	As of June 30		As of December 31
	2021		2020
Government authorities	$	15	$	20
		15		20

XML

OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

SCHEDULE OF OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Composition:

	As of June 30		As of December 31
	2021		2020
Other payables	$	47	$	47
Accrued liabilities		152		130
	$	199	$	177

XML

PAYABLE TO PARENT COMPANY (Tables)

6 Months Ended

Jun. 30, 2021

Payable To Parent Company

SCHEDULE OF PAYABLE TO PARENT COMPANY

Balances:

	As of June 30		As of December 31
	2021		2020
Gix – Parent Company Payable	$	2,171	$	2,054

XML

SHORT TERM LOAN (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

SCHEDULE OF FAIR VALUE DISTRIBUTION OF LIABILITY AND EQUITY COMPONENTS

The allocation of the proceeds to the fair value distribution of the liability and equity components on the transactions date was as follows:

Instrument	Fair Value		% of total fair		Allocated amount
Short term loan and prepaid interest		55,200		49.45		49,246
Investment in the company’s shares		54,000		50.55		50,340
Total		109,200		100		99,586

SCHEDULE OF COMPOSITION OF SHORT TERM LOAN

The composition of short term loan balance as of the transaction is as follows:

	As of June 30 2021			As of December 31 2020
Short term loan	$	69		$	69
Discount on Short term loan		(10	)		(19	)
Short term loan, Net	$	59		$	50

XML

STOCKHOLDERS’ DEFICIT (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

SCHEDULE OF COMMON STOCK COMPOSITION

Composition:

	As of June 30				As of December 31
	2021				2020
	Authorized		Issued and outstanding		Authorized		Issued and outstanding
	Unaudited
	Number of shares
Common Stock		490,000,000		34,753,669		490,000,000		34,753,669

SUMMARY OF OUTSTANDING WARRANTS

The following table summarizes information of outstanding warrants as of June 30, 2021:

	Warrants		Warrant Term	Exercise Price		Exercisable
Class J Warrants		3,649,318	July 2029		0.48		3,649,318
Class K Warrants		3,649,318	July 2029		0.80		3,649,318

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FINANCIAL (EXPENSES) INCOME, NET (Tables)

6 Months Ended

Jun. 30, 2021

Financial Expenses Income Net

SCHEDULE OF FINANCIAL (INCOME) EXPENSES, NET

	For the six months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(4	)
Exchange rate differences		(2	)		(4	)
Other		(8	)		4
		(11	)		(4	)

	For the three months ended June 30
	2021			2020
	Unaudited
Bank fees		(1	)		(2	)
Exchange rate differences		(3	)		(44	)
Other		-			14
		(4	)		(32	)

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TAXES ON INCOME (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

SCHEDULE OF DEFERRED INCOME TAXES

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows:

	As of June 30			As of December 31
	2021			2020
Deferred R&D expenses	$	16		$	114
Operating loss carryforward		32,295			32,256
	$	32,311		$	32,370
Net deferred tax asset before valuation allowance	$	7,062		$	7,076
Valuation allowance		(7,062	)		(7,076	)
Net deferred tax asset	$	-		$	-

SCHEDULE OF LOSS (INCOME) FROM CONTINUING OPERATIONS, BEFORE TAXES ON INCOME

	For the six months ended June 30				For the three months ended June 30
		2021		2020		2021		2020
USA	$	42	$	10	$	15	$	5
Israel		114		255		61		88
	$	156	$	265	$	76	$	93

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LOSS PER SHARE-BASIC AND DILUTED (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

SCHEDULE OF LOSS PER SHARE-BASIC AND DILUTED

	For the six months ended June 30				For the three months ended June 30
	2021		2020		2021		2020
Basic and diluted:
Net loss attributable to ordinary stockholders		159		267		79		93
Weighted-average common stock		34,753,669		31,201,669		34,753,669		31,201,669
Loss per share-basic and diluted		0.005		0.009		0.002		0.003

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GENERAL (Details Narrative) $ / shares in Units, ₪ in Thousands, $ in Thousands				3 Months Ended		6 Months Ended
	Dec. 18, 2020 USD ($) $ / shares shares	Jul. 24, 2019 $ / shares shares	Feb. 07, 2019 shares	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jan. 27, 2020 USD ($)	Jan. 27, 2020 ILS (₪)	Dec. 31, 2019 USD ($)	Jun. 24, 2019
Entity Listings [Line Items]
Net Income (Loss) Attributable to Parent | $				$ 79	$ 93	$ 159	$ 267
Stockholders' Equity Attributable to Parent | $				$ 2,237	$ 1,960	$ 2,237	$ 1,960	$ 2,158	$ 2,078	$ 1,867			$ 1,693
Virtual Crypto Israel [Member]
Entity Listings [Line Items]
Due to related party											$ 14,459	₪ 50,000
Convertible Notes Holders [Member]
Entity Listings [Line Items]
Number of stock issued		3,434,889
Viewbix Ltd [Member]
Entity Listings [Line Items]
Ownership percentage														99.83%
Gix Ltd [Member]
Entity Listings [Line Items]
Number of restricted common stock						1,642,193
Number of stock issued		20,281,085
Warrants to purchase common stock		7,298,636
Gix Ltd [Member] | Warrant One [Member]
Entity Listings [Line Items]
Warrants to purchase common stock		3,649,318
Warrants exercise price | $ / shares		$ 0.48
Gix Ltd [Member] | Warrant Two [Member]
Entity Listings [Line Items]
Warrants to purchase common stock		3,649,318
Warrants exercise price | $ / shares		$ 0.80
Share Exchange Agreement [Member] | Viewbix Ltd [Member]
Entity Listings [Line Items]
Ownership percentage			99.83%
Share Exchange Agreement [Member] | Gix Ltd [Member]
Entity Listings [Line Items]
Share issued and outstanding, percentage			65.00%
Number of restricted common stock			1,642,193
Fully diluted share capital, percentage			5.00%
Stock Subscription Agreement [Member] | Investor [Member]
Entity Listings [Line Items]
Number of stock issued	3,000,000
Sale of Stock, Price Per Share | $ / shares	$ 0.01
Stock Issued During Period, Value, New Issues | $	$ 30,000
Loan Agreement [Member] | Investor [Member]
Entity Listings [Line Items]
Number of stock issued	552,000
Sale of Stock, Price Per Share | $ / shares	$ 0.01
Debt Instrument, Face Amount | $	$ 69,000
Debt Instrument, Interest Rate, Stated Percentage	8.00%

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SCHEDULE OF OTHER ACCOUNTS RECEIVABLES COMPOSITION (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Accounts Receivables
Government authorities	$ 15	$ 20
Total	$ 15	$ 20

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SCHEDULE OF OTHER ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Other payables	$ 47	$ 47
Accrued liabilities	152	130
Total other accounts payables	$ 199	$ 177

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SCHEDULE OF PAYABLE TO PARENT COMPANY (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payable To Parent Company
Gix – Parent Company Payable	$ 2,171	$ 2,054

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PAYABLE TO PARENT COMPANY (Details Narrative) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Entity Listings [Line Items]
Payable to parent company	$ 2,171	$ 2,054
Gix Ltd [Member]
Entity Listings [Line Items]
Operations costs incurred, percentage	0.50
Payable to parent company	$ 0	$ 0

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SCHEDULE OF FAIR VALUE DISTRIBUTION OF LIABILITY AND EQUITY COMPONENTS (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Short-term Debt [Line Items]
Fair Value	$ 109,200
Percentage of fair value	100.00%
Allocated amount	$ 99,586
Short Term Loan and Prepaid Interest [Member]
Short-term Debt [Line Items]
Fair Value	$ 55,200
Percentage of fair value	49.45%
Allocated amount	$ 49,246
Investment in the Company's Shares [Member]
Short-term Debt [Line Items]
Fair Value	$ 54,000
Percentage of fair value	50.55%
Allocated amount	$ 50,340

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SCHEDULE OF COMPOSITION OF SHORT TERM LOAN (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Short term loan	$ 69	$ 69
Discount on Short term loan	(10)	(19)
Short term loan, Net	$ 59	$ 50

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SHORT TERM LOAN (Details Narrative) - Investors [Member] $ / shares in Units, $ in Thousands	Dec. 18, 2020 USD ($) $ / shares shares
Loan And Stock Subscription Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.00%
Stock Issued During Period, Shares, New Issues | shares	552,000
Sale of Stock, Price Per Share | $ / shares	$ 0.01
Loan discount	$ 19
Stock Subscription Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from Issuance of Common Stock	$ 30,587

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SCHEDULE OF COMMON STOCK COMPOSITION (Details) - shares	Jun. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Common Stock, Shares Authorized	490,000,000	490,000,000
Common Stock, Shares Issued	34,753,669	34,753,669
Common Stock, Shares Outstanding	34,753,669	34,753,669

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SUMMARY OF OUTSTANDING WARRANTS (Details)	6 Months Ended
	Jun. 30, 2021 $ / shares shares
Class J Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants	3,649,318
Warrant Term	July 2029
Warrant Exercise Price | $ / shares	$ 0.48
Warrant Exercisable	3,649,318
Class K Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants	3,649,318
Warrant Term	July 2029
Warrant Exercise Price | $ / shares	$ 0.80
Warrant Exercisable	3,649,318

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STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended			3 Months Ended	6 Months Ended
	Dec. 18, 2020	Jul. 24, 2019	Apr. 30, 2020	Jan. 31, 2020	Jul. 31, 2019	Mar. 31, 2020	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Stock, Voting Rights							Common stock
Deemed to issued common shares					30,928,620
Shares exchange rate					99.83%
Class H Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants expired during period						50,000
Class I Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants expired during period				38,095
Class G Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants expired during period			142,857
Gix Ltd [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues		20,281,085
Number of restricted common stock shares issued							1,642,193
Stock Subscription Agreement [Member] | Investor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues	3,000,000
Sale of Stock, Price Per Share	$ 0.01
Stock Issued During Period, Value, New Issues	$ 30,000
Loan Agreement [Member] | Investor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues	552,000
Sale of Stock, Price Per Share	$ 0.01
Debt Instrument, Interest Rate, Stated Percentage	8.00%

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COMMITMENTS AND CONTINGENCIES (Details Narrative) - Tel Aviv District Court [Member] $ in Thousands	1 Months Ended
	Jun. 30, 2017 USD ($)
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 225
Loss contingency description	The Company filed its response with the Tel Aviv Court in October of 2017. The dispute was initially heard by the Tel Aviv Court on February 13, 2020. In a supplemental hearing on February 11, 2021 the former CEO provided data regarding his claims. On March 11, 2021 the former CEO filed his summaries. The Company’s summaries filed on May, 2021. On June 3, 2021, and after the summaries were filed, the lawsuit against Emerald Israel was dismissed by the Tel Aviv Court

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SCHEDULE OF FINANCIAL (INCOME) EXPENSES, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Obligation with Joint and Several Liability Arrangement [Line Items]
Financial (expenses) income, net	$ (4)	$ (32)	$ (11)	$ (4)
Bank Fees [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Financial (expenses) income, net	(1)	(2)	(1)	(4)
Exchange Rate Differences [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Financial (expenses) income, net	(3)	(44)	(2)	(4)
Other [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Financial (expenses) income, net		$ 14	$ (8)	$ 4

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SCHEDULE OF DEFERRED INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Deferred R&D expenses	$ 16	$ 114
Operating loss carryforward	32,295	32,256
Total	32,311	32,370
Net deferred tax asset before valuation allowance	7,062	7,076
Valuation allowance	(7,062)	(7,076)	$ (7,062)
Net deferred tax asset

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SCHEDULE OF LOSS (INCOME) FROM CONTINUING OPERATIONS, BEFORE TAXES ON INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
USA	$ 15	$ 5	$ 42	$ 10
Israel	61	88	114	255
Total loss before taxes on income	$ 76	$ 93	$ 156	$ 265

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TAXES ON INCOME (Details Narrative) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2019	Dec. 31, 2020	Jun. 30, 2020
Operating Loss Carryforwards [Line Items]
Income tax examination description	On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which among other provisions, reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018.
Valuation allowances, deferred tax assets	$ 7,062		$ 7,076	$ 7,062
Operating Loss Carryforwards	$ 32,295		$ 32,256
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Income tax examination description	Net operating losses in the U.S. are available through 2035
UNITED STATES
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 18,494
Viewbix Israel [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 13,801
Israel Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Corporate tax rate		23.00%

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SCHEDULE OF LOSS PER SHARE-BASIC AND DILUTED (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net loss attributable to ordinary stockholders	$ 79	$ 93	$ 159	$ 267
Weighted-average common stock	34,753,669	31,201,669	34,753,669	31,201,669
Loss per share-basic and diluted	$ 0.002	$ 0.003	$ 0.005	$ 0.009