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DISCONTINUED OPERATION | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATION |
NOTE 18 - | 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.
|  | 2021 |
Revenue: |  |  |
Services |  | $ | 440 |
Cost of revenue: |  |  |  |
Services |  |  | 429 |
Gross profit (loss) |  |  | 11 |
Operating expenses: |  |  |  |
Research and development, net |  |  | 16 |
Selling and marketing |  |  | 29 |
General and administrative |  |  | 68 |
|  |  | 113 |
Operating income (loss) |  |  | (102 | )
Financial expenses (income) |  |  | - |
Income (loss) on disposal of discontinued operation (1) |  |  | 529 |
Net Income (loss) |  | $ | 427 |
| (1) | During 2020, the Company wrote off total assets of $1.4 million. During 2021 the Company was succeeded to collect and sell some of the account receivable and inventory that were written off in total amount of $529. The final disposal of this activity was finalized in 2021.

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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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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