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DISCONTINUED OPERATION | 12 Months Ended
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Dec. 31, 2020
Long-term Debt, by Current and Noncurrent [Abstract] |
DISCONTINUED OPERATION | NOTE 16 - DISCONTINUED OPERATION In June 2020, the company's management decided to discontinue the JT8D engine blades reconditioning activity as part of a strategic change in its business to focus on new capabilities to provide services to newer types of engines. The discontinued operation is related to the JT8D engine blades reconditioning activity in Turbochrome, which constitute a material portion of Turbochrome’s revenues.
|  |  |  |  | 2020 |  |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |  |  |
Account receivables |  |  |  | $ | - |  |  | $ | 821 |
Inventory |  |  |  |  | - |  |  |  | 580 |
Fixed assets, net |  |  |  |  | - |  |  |  | 438 |
Costumers’ relationship |  |  |  |  | - |  |  |  | 388 |
Total Assets |  |  |  | $ | - |  |  | $ | 2,227 |
Liability: |  |  |  |  |  |  |  |  |  |
Account payables |  |  |  | $ | 179 |  |  | $ | 158 |
Total Liabilities |  |  |  | $ | 179 |  |  | $ | 158 |
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Revenue: |  |  |  |  |  |  |  |  |
Services |  | $ | 955 |  |  | $ | 4,553 |  |  | $ | 5,457 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  | 1,062 |  |  |  | 4,291 |  |  |  | 5,011 |
Gross profit (loss) |  |  | (107 | ) |  |  | 262 |  |  |  | 446 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development, net |  |  | 42 |  |  |  | (39 | ) |  |  | 95 |
Selling and marketing |  |  | 90 |  |  |  | 330 |  |  |  | 159 |
General and administrative |  |  | 191 |  |  |  | 598 |  |  |  | 658 |
|  |  | 323 |  |  |  | 889 |  |  |  | 912 |
Operating income (loss) |  |  | (430 | ) |  |  | (627 | ) |  |  | (466 | )
Financial expenses (income) |  |  | - |  |  |  | 28 |  |  |  | 14 |
Loss on disposal of discontinued operation (1) |  |  | 1,415 |  |  |  | - |  |  |  | - |
Net Income (loss) |  | $ | (1,845 | ) |  | $ | (655 | ) |  | $ | (480 | )
| (1) | During 2020, the Company writes off the following assets belonging to the discontinued operation: Inventory of $464, Accounts receivable of $233, Fixed assets of $363 and Customers' relationships of $355.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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