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SHAREHOLDERS’ EQUITY | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
SHAREHOLDERS’ EQUITY | NOTE 13: SHAREHOLDERS’ EQUITY A. Shares of Common Stock: Shares of Common Stock confer the rights 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. B. Warrants: The following table summarizes information of outstanding warrants as of December 31, 2022 and 2021: 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 |  |  | 22.40 |  |  |  | 130,333 |
C. Reverse Stock Split: On August 31, 2022, the Company filed the Amended COI with the Secretary of State of Delaware to affect a 28 to 1 reverse stock split of the Company’s outstanding shares of Common Stock. All share and per share data in these financial statements have been retrospectively adjusted to reflect the reverse stock split. VIEWBIX INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. dollars in thousands (except share data) NOTE 13: SHAREHOLDERS’ EQUITY (Cont.) D. Share option plan: In 2017, 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 are traded in the Tel-Aviv Stock Exchange. A summary of Gix Media’s employee options activity and related information is as follows: SCHEDULE STOCK OPTION ACTIVITY
|  | As of December 31, 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 | ) |  |  | 1.42 |  |  |  | (382,085 | ) |  |  | 1.61 |
Outstanding at end of period |  |  | 160,000 |  |  |  | 1.42 |  |  |  | 737,915 |  |  |  | 1.61 |
Options exercisable at end of period |  |  | 160,000 |  |  |  | 1.42 |  |  |  | 504,585 |  |  |  | 1.61 |
The following tables summarize additional information regarding the Gix Media’s outstanding and exercisable options as of December 31, 2022: SCHEDULE OF OPTION OUTSTANDING AND EXERCISABLE
|  | Options Outstanding and Exercisable |
|  | As of December 31, 2022 |
Range of exercise price |  | Number of options As of December 31, 2022 |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual life (years) |
$ |  |  |  |  |  |  | $ |  |  |  |  |
1.42 |  |  | 160,000 |  |  |  | 1.42 |  |  |  | 6.60 |
The Company recognized stock-based compensation expenses related to Gix Media and Cortex employee’s options in the statement of operations as follows: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES
|  | For the year ended December 31, |
|  | 2022 |  |  | 2021 |
Research and development |  |  | 55 |  |  |  | (40 | )
Selling and marketing |  |  | 18 |  |  |  | (6 | )
General and administrative |  |  | (2 | ) |  |  | 3 |
Total |  |  | 71 |  |  |  | (43 | )
On March 2, 2023, the Company adopted a stock incentive plan under which the Company can grant various stock-based awards, under various tax regimes (see note 18.E). VIEWBIX INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. dollars in thousands (except share data) NOTE 13: SHAREHOLDERS’ EQUITY (Cont.) E. Dividends: For the years ended December 31, 2022 and 2021, Cortex distributed dividends in the amount of $1,698 and $194, respectively, to the non-controlling interests. On December 25, 2022, Cortex declared a dividend in the total amount of $445 to the non-controlling interests which was partially distributed in February 2023 (see note 18.C). On September 14, 2022, Gix Media declared a dividend in the amount of $1,000 of which an amount of $83 was paid as tax to the Israeli Tax Authority (see note 18.D). Out of the remaining amount of $917, as of December 31, 2022, Gix Media distributed an amount of $787 of which an amount of $714 that was distributed to the Parent Company, was offset from the First Loan to the Parent Company (see also note 15). The remaining amount of $130 was distributed by Gix Media in January 2023 (see note 18.D).

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