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LOANS | 6 Months Ended
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Jun. 30, 2023
Receivables [Abstract] |
LOANS | NOTE 6: LOANS A. Bank Financing for Cortex’s capital shares additional Purchase: On January 23, 2023, Gix Media acquired an additional 10% of Cortex’s capital shares (see note 1.C) which was financed by Gix Media’s existing cash balances and by a long-term bank loan received on January 17, 2023, in the amount of $1,500 to be repaid in 42 monthly payments at an annual interest rate of SOFR + 5.37%. B. Cortex’s Loan Agreement: On September 21, 2022, Cortex and Bank Leumi Le Israel Ltd (“Leumi”) entered into an addendum to an existing loan agreement between the parties, dated August 15, 2020. As part of the addendum to the loan agreement, Leumi provided Cortex with a monthly renewable credit line of $1,500 (the “Cortex Credit Line”). The Cortex Credit Line is determined every month at the level of 70% of Cortex’s customers’ balance. The amounts that are drawn from the Cortex Credit Line bear an annual interest of SOFR + 3.52% (Overnight Financing Rate Secured, guaranteed daily interest as determined in accordance with the Federal Bank in New York). On April 27, 2023, Leumi increased the Cortex Credit Line by $1,000, which was fully withdrawn by Cortex as of June 30, 2023. C. Composition of long-term loans, short-term loans, and credit lines of the Group: The following is the composition of the balance of the Group’s loans according to their nominal value: SCHEDULE OF COMPOSITION OF THE BALANCE OF THE GROUP’S LOANS
|  | Interest rate (*) |  |  | As of June 30, 2023 |  |  | As of December 31, 2022 |
Short-term loan – the Company |  |  | 8 | % |  |  | - |  |  |  | 69 |
Short-term bank loan – Gix Media |  |  | LIBOR + 3.20 | % |  |  | 3,500 |  |  |  | 3,500 |
Short-term bank loan – Cortex |  |  | SOFR + 3.52 | % |  |  | 2,500 |  |  |  | 1,500 |
Long-term bank loan, including current maturity – Gix Media (received on October 13, 2021) |  |  | LIBOR + 4.12 | % |  |  | 3,686 |  |  |  | 4,381 |
Long-term bank loan, including current maturity – Gix Media (received on January 17, 2023) |  |  | SOFR + 5.37 | % |  |  | 1,321 |  |  |  | - |
Bank loan |  |  |  |  |  |  | 11,007 |  |  |  | 9,450 |
| (*) | The LIBOR interest rate was published until end of June 2023 and from July 2023 was replaced by the Secured Overnight Financing Rate (“SOFR”).
D. Short term loan: On December 18, 2020, the Company entered into a loan agreement and Stock Subscription Agreement with certain Investors, pursuant to which the Investors lent an aggregate amount of $69 at an annual interest rate of 8% (the “Loan”). In January 2023, the Company reached an agreement with the investors that the Loan received will be repaid in 3 equal monthly payments. In April 2023, the Loan was fully repaid by the Company. VIEWBIX INC. NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) U.S. dollars in thousands (except share data)

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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- References No definition available. + Details
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