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LEASES
 3 Months Ended
Mar. 31, 2023
Leases  
LEASES

NOTE 4: LEASES

 

On February 25, 2021, Gix Media entered into a lease agreement for a new corporate office of 479 square meters in Ramat Gan, Israel, at a monthly rent fee of $10. The lease period is for 36 months (the “initial lease period”) with an option by the Company to extend for two additional terms of 24 months each. In accordance with the lease agreement, the Company made leasehold improvements in exchange for a rent fee discount of $67 which will be spread over the initial lease period.

 

The Company includes renewal options that it is reasonably certain to exercise in the measurement of the lease liabilities.

 

Weighted-average remaining lease term and discount rate were as follows:

 

  

As of

March 31 2023

 
     
Operating leases weighted average remaining lease term (in years)   4.92 
Operating leases weighted average discount rate   3.10%

 

  

As of

December 31 2022

 
     
Operating leases weighted average remaining lease term (in years)   5.17 
Operating leases weighted average discount rate   3.10%

 

Operating lease expenses amounted to $26 and $25 for the three months ended March 31, 2023 and 2022, respectively.

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited

 

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