v3.24.3

PREPAID EXPENSES AND OTHER CURRENT ASSETS | 9 Months Ended
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Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
PREPAID EXPENSES AND OTHER CURRENT ASSETS | NOTE 6: PREPAID EXPENSES AND OTHER CURRENT ASSETS
|  | September 30, 2024 |  |  | December 31, 2023 |
Government authorities |  | $ | 255,603 |  |  | $ | 167,221 |
Vendor non-trade receivables1 |  |  | 56,508 |  |  |  | 102,991 |
Loan receivables, net2 |  |  | 32,297 |  |  |  | 55,418 |
Prepayments |  |  | 38,438 |  |  |  | 29,578 |
Other |  |  | 18,705 |  |  |  | 23,186 |
Total prepaid expenses and other current assets |  | $ | 401,551 |  |  | $ | 378,394 |
1 Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products, components and other testing equipment for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues. 2 Loan receivables are loans to third parties. The loan repayments are expected on a monthly or annual basis as per the contractual terms of each loan agreement. The loan is measured at its amortized cost and is subjected to the Company's credit risk policy. The loans bear interest that represents market interest rate. As of September 30, 2024, the Company's provision for credit loss was $11,578 which was recorded under Financial income (expense), net. The amortized cost of the loan receivable approximates its fair value as of September 30, 2024. As of September 30, 2024 and December 31, 2023 the Company granted loans to a customer in the amounts of $80,000 and $43,000, respectively. Considering the loan amounts, the customer's balance would potentially expose the Company to a concentration of credit risk. See Note 10 for more information regarding the long-term portion of the loan.

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