|
NOTE 12- LEASES:
The Company has lease contracts
for motor vehicles used in its operations. Leases of motor vehicles have lease terms of 3 years.
The following is a summary of
weighted average remaining lease terms and discount rate for all of the Company’s operating leases:
| |
|
December 31, 2020 |
|
|
December 31, 2019 |
|
| weighted average remaining lease term (years) |
|
|
1.71 |
|
|
|
2.3 |
|
| weighted average discount rate |
|
|
13 |
% |
|
|
13 |
% |
The
components of lease expense and supplemental cash flow information related to leases for the year ended December 31, 2020 and 2019
were as follows:
| |
|
Year ended December 31, 2020 |
|
|
Year ended December 31, 2019 |
|
| Components of lease expense: |
|
|
|
|
|
|
| Operating lease cost |
|
$ |
43 |
|
|
$ |
29 |
|
| Total lease expenses |
|
$ |
43 |
|
|
$ |
29 |
|
| |
|
Year ended December 31, 2020 |
|
|
Year ended December 31, 2019 |
|
| Supplemental cash flow information |
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities |
|
$ |
43 |
|
|
$ |
38 |
|
| |
|
|
|
|
|
|
|
|
| Supplemental non-cash information related to lease liabilities arising from obtaining ROU assets |
|
$ |
29 |
|
|
$ |
76 |
|
Maturities
of lease liabilities as of December 31, 2020 were as follows:
| 2021 |
|
$ |
45 |
|
| 2022 |
|
$ |
20 |
|
| 2023 |
|
$ |
6 |
|
| Total operating lease payments |
|
$ |
71 |
|
| Less: imputed interest |
|
$ |
(4 |
) |
| Present value of lease liability |
|
$ |
67 |
|
|