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LEASES

12 Months Ended

Dec. 31, 2023

NOTE 5: 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 the lease period 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. In December 2023, the Company exercised the option to extend the lease period for an additional term of 24 months (from March 1, 2024, to February 28, 2026).

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

	As of December 31 2023

Operating leases weighted average remaining lease term (in years)		4.17
Operating leases weighted average discount rate		3.10	%

Maturities of operating lease liabilities as of December 31, 2023, are as follows:

	As of December 31
	2023

2024	$	86
2025	$	86
2026	$	110
2027	$	115
Thereafter	$	19
Total lease payments		416
Less: imputed interest		(27	)
Present value of lease liabilities		389

Operating lease expenses amounted to $110 and $102 for the years ended December 31, 2023, and 2022, respectively.

VIEWBIX INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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