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LOAN TO PARENT COMPANY
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
LOAN TO PARENT COMPANY

NOTE 16: LOAN TO PARENT COMPANY

  

   

As of

December 31

    

As of

December 31

  
    2024     2023  
                 
Loan to Parent Company   $ 3,981     $ 3,752  

 

The balance with the Parent Company represents a balance of an intercompany loan under a loan agreement signed between Gix Media and the Parent Company on March 22, 2020. The loan bears interest at a rate to be determined from time to time in accordance with Section 3(j) of the Income Tax Ordinance, new version, and the Income Tax Regulations (Determination of Interest Rate for the purposes of Section 3(j), 1986) or according to a market interest rate decision as agreed between the parties. The amount of the loan is in U.S. dollars. The loan’s maturity date is September 1, 2025 (see note 19.D).

 

For the years ended December 31, 2024, and 2023, Gix Media recognized interest income in the amount of $160 and $87, respectively.