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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from Operating Activities        
Net income (loss) $ (1,781) $ 71 $ (2,209) $ (30)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation and amortization 734 736 2,202 2,051
Share-based compensation 43 32 118 40
Deferred taxes (67) (96) (159) (219)
Accrued interest, net (7) 28 (13) 60
Interest income (21) (39) (64) (110)
Exchange rate differences on loans 72 1,033
Changes in assets and liabilities items:        
Decrease in accounts receivable 6,922 20 9,452 17
Decrease (increase) in other receivables (114) 378 166 190
Decrease in operating lease right-of-use assets 23 22 67 64
Decrease in severance pay, net (1) (100) (2)
Increase (decrease) in accounts payable (5,603) 535 (8,040) (532)
Decrease in other payables (374) (228) (592) (525)
Decrease in operating lease liabilities (31) (19) (89) (56)
Increase in loan from parent company 66 194
Net cash provided by (used in) operating activities (276) 1,577 739 2,175
Cash flows from Investing Activities        
Purchase of property and equipment (3) (7) (13) (52)
Capitalization of software development costs (16)
Net cash used in investing activities (3) (7) (13) (68)
Cash flows from Financing Activities        
Cash paid to non-controlling interests (see note 1.C) (2,625)
Receipt of short-term bank loan 1,200 1,000
Repayment of short-term loans (1,000) (269) (1,000)
Receipt of long-term bank loan 1,500
Repayment of long-term loan (465) (358) (1,339) (1,060)
Payment of dividend to non-controlling interests (453) (598) (1,195)
Payment of dividend to shareholders (see note 8.E.1) (130)
Increase in loan to parent company (8) (606) (112) (1,462)
Net cash used in financing activities (473) (2,417) (2,373) (3,717)
Decrease in cash and cash equivalents and restricted cash (752) (847) (1,647) (1,610)
Cash and cash equivalents and restricted cash at beginning of period 3,486 4,679 4,381 5,442
Cash and cash equivalents and restricted cash at end of period 2,734 3,832 2,734 3,832
Cash paid during the period        
Taxes paid 63 135 575 551
Interest paid (252) (164) (696) (391)
Total Cash paid during the period 315 299 1,271 942
Substantial non-cash activities:        
Dividend declared $ 1,000 $ 1,000