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SHORT TERM LOAN AND ISSUES OF SHARES | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
SHORT TERM LOAN AND ISSUES OF SHARES |
Note 5. | SHORT TERM LOAN AND ISSUES OF SHARES
On December 18, 2020, the company entered into a Loan Agreement (the “Loan”) and Stock Subscription Agreement with certain Investors as described in note 1c, pursuant to which the Investors lent an aggregate amount of $69,000 (the “Principal Amount”). In accordance with the terms of the Loan, the company prepaid the interest on the Principal Amount of 8% compounded annually to the Investors as an issuance of 552,000 shares of Common Stock, at a price per share of $0.01. Under the Stock Subscription Agreement, the Investors transferred an amount of $30,587 to the company as consideration for the issued shares. The Company allocated the total proceeds in respect of the shares issued and the Loan extended based on theirrelative fair values. As a result of the allocation, a discount of $19 was recorded on the loan. The discount is amortized over the term of the loan as finance expense. The allocation of the proceeds to the fair value distribution of the liability and equity components on the transactions date was as follows: SCHEDULE OF FAIR VALUE DISTRIBUTION OF LIABILITY AND EQUITY COMPONENTS
Instrument |  | Fair Value |  |  | % of total fair |  |  | Allocated amount |
Loan |  |  | 55,200 |  |  |  | 49.45 |  |  |  | 49,246 |
Shares |  |  | 54,000 |  |  |  | 50.55 |  |  |  | 50,340 |
Total |  |  | 109,200 |  |  |  | 100 |  |  |  | 99,586 |
The composition of short term loan balance as of the transaction is as follows: SCHEDULE OF COMPOSITION OF SHORT TERM LOAN
Principal amount |  |  | 69 |
Discount on Short term loan |  |  | (19 | )
Short term loan, Net |  |  | 50 |
Viewbix Inc. Notes to Consolidated Financial Statements U.S. dollars in thousands (except share and per share data)

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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