XML 20 R11.htm IDEA: XBRL DOCUMENT v3.21.2
PAYABLE TO PARENT COMPANY
 6 Months Ended
Jun. 30, 2021
Payable To Parent Company  
PAYABLE TO PARENT COMPANY

NOTE 5: PAYABLE TO PARENT COMPANY

Balances:

 

   

As of

June 30

     As of
December 31		  
    2021     2020  
                 
Gix – Parent Company Payable   $ 2,171     $ 2,054  

 

As part of the agreement with Gix, the parties agreed to have the Company’s operations outsourced to Gix from the agreement date and until the acquisition is consummated. The following terms were included in the agreement pursuant to the above:

 

  (a) From May 2018 all of the Company’s employees will become employees of Gix.
  (b) Between the periods of May 2018 to October 2018, Gix will pay the full expenses of the employees as well as other related expenses.
  (c) From November 2018 until to the Closing Date, the employees transferred from the Company to Gix will dedicate half of their time to the Company’s operations and correspondingly 50% of the costs to be incurred by Gix in respect of these employees are to be charged to the Company.

 

From the closing date, the actual expenses incurred by Gix related to the Company will be charged to the Company. No amounts were paid by the Company to Gix during 2021 and 2020.

 

  

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

 

U.S. dollars in thousands (except share data)