Short-Term Bank Loans

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

SHORT-TERM BANK LOANS

NOTE 7 — SHORT-TERM BANK LOANS:

Composition:

	Interest rate as of December 31,		Total short-term liabilities
	2018	Linkage	December 31,
	%	basis	2019		2018
Due to banks	Prime plus 2.45% Prime plus 2.5%	NIS	$	-	$	2,330
Current portion				-		476
			$	-	$	2,806

As of December 31, 2018, the Company had short-term bank credit of $2,806 comprised as follows: $476 current portion of long-term loans of Micronet and $1,566 of short-term bank loans that bear interest of prime plus 2.45% through prime plus 2.5% paid either on a monthly or weekly basis and long term loans of $764 that were classified to the short term loans due to the fact Micronet does not meet its covenants.

In July 2019, the Company paid all of its outstanding bank loans in the amount of $251.

As of December 31, 2019, the Company had no short-term bank credit.