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LOAN TO PARENT COMPANY
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
LOAN TO PARENT COMPANY

NOTE 3: LOAN TO PARENT COMPANY

 

  

As of

March 31 2025

  

As of

December 31 2024

 
         
Loan to Parent Company  $4,013   $3,981 

 

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.

 

On March 19, 2025, the Company’s board of directors approved to extend the loan between Gix Media and the Parent Company until September 1, 2025. All other terms and conditions of the loan will remain unchanged.

 

For the three months ended March 31, 2025 and 2024, Gix Media recognized interest income in the amount of $38 and $39, respectively.