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SHAREHOLDERS’ EQUITY | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | NOTE 13: SHAREHOLDERS’ EQUITY A. Ordinary Shares: Ordinary shares confer the right to: (i) participate in the general meetings, to one vote per share for any purpose, to an equal part, on share basis, (ii) in distribution of dividends and (iii) to equally participate, on share basis, in distribution of excess of assets and funds from the Company and will not confer other privileges unless stated hereunder or in the Companies Law otherwise. Some investors have standard anti-dilutive rights, registration rights, and information and representation rights. B. Warrants: The following table summarizes information of outstanding warrants as of September 30, 2022: SUMMARY OF OUTSTANDING WARRANTS
|  | Warrants |  |  | Warrant Term |  |  | Exercise Price |  |  | Exercisable |
Class J Warrants |  |  | 130,333 |  |  |  | July 2029 |  |  |  | 13.44 |  |  |  | 130,333 |
Class K Warrants |  |  | 130,333 |  |  |  | July 2029 |  |  |  | 22.4 |  |  |  | 130,333 |
All of the Company’s warrants meet the U.S. GAAP criteria for equity classification. C. Reverse Stock Split: On August 31, 2022, the Company filed the Amended COI with the Secretary of State of Delaware to effect a 28 to 1 reverse stock split of the Company’s outstanding shares of Common Stock. As a result of the reverse stock split, every 28 shares of the Company’s outstanding Common Stock prior to the effect of the amended COI was combined and reclassified into one share of the Company’s shares of Common Stock. The number of authorized share capital of the Company’s Common Stock and par value of the shares remained unchanged. All share and stock options information related to the Company, was adjusted to reflect the reverse stock split on a retroactive basis. VIEWBIX INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) U.S. dollars in thousands (except share data) NOTE 13: SHAREHOLDERS’ EQUITY (Cont.) D. Share option plan: After the completion of Gix Media’s acquisition by the Parent Company, the Parent Company granted options to Gix Media’s employees. These options entitle the employees to purchase ordinary shares of the Parent Company that its shares are traded on Tel-Aviv stock exchange. A summary of Gix Media’s employee share options activity and related information is as follows: SCHEDULE STOCK OPTION ACTIVITY
|  | As of September 30, 2022 |  |  | As of December 31, 2021 |
|  | Number of options |  |  | Weighted average exercise price |  |  | Number of options |  |  | Weighted average exercise price |
|  |  |  |  |  | $ |  |  |  |  |  |  | $ |
Options outstanding at beginning of the year |  |  | 737,915 |  |  |  | 1.61 |  |  |  | 1,120,000 |  |  |  | 1.56 |
Changes during the period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired or forfeited |  |  | (577,915 | ) |  |  | 1.41 |  |  |  | (382,085 | ) |  |  | 1.61 |
Outstanding at end of period |  |  | 160,000 |  |  |  | 1.41 |  |  |  | 737,915 |  |  |  | 1.61 |
Options exercisable at end of period |  |  | 157,086 |  |  |  | 1.41 |  |  |  | 504,585 |  |  |  | 1.61 |
The following tables summarize additional information regarding the Gix Media’s outstanding and exercisable options as of December 31, 2021: SCHEDULE OF OPTION OUTSTANDING AND EXERCISABLE
|  |  | Options outstanding |
|  |  | As of September 30, 2022 |
Range of exercise price |  |  | Number of options |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual life (years) |
| $ |  |  |  |  |  |  |  | $ |  |  |  |  |
| 1.41 |  |  |  | 160,000 |  |  |  | 1.41 |  |  |  | 5.85 |
|  |  | Options Exercisable |
|  |  | As of September 30, 2022 |
Range of exercise price |  |  | Number of options |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual life (years) |
| $ |  |  |  |  |  |  |  | $ |  |  |  |  |
| 1.41 |  |  |  | 157,086 |  |  |  | 1.41 |  |  |  | 5.82 |
VIEWBIX INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) U.S. dollars in thousands (except share data) NOTE 13: SHAREHOLDERS’ EQUITY (Cont.) The Company recognized stock-based compensation expenses related to employee’s stock options in the statement of operations as follows: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | For the nine months ended September 30 |  |  | For the three months ended September 30 |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Research and development |  |  | 31 |  |  |  | (37 | ) |  |  | 29 |  |  |  | (3 | )
Selling and marketing |  |  | 11 |  |  |  | (6 | ) |  |  | 3 |  |  |  | - |
General and administrative |  |  | (2 | ) |  |  | 5 |  |  |  | - |  |  |  | - |
Total |  |  | 40 |  |  |  | (38 | ) |  |  | 32 |  |  |  | (3 | )
E. Dividends: During the nine months ended September 30,2022, Cortex distributed a dividend in the amount of $1,195 to the non-controlling interests. On September 30, 2022, Gix Media declared a dividend in a total amount of $1,000. As of September 30, 2022, the dividend was not distributed (see note 9).

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