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LOAN TO PARENT COMPANY | 6 Months Ended
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Jun. 30, 2025
Related Party Transactions [Abstract] |
LOAN TO PARENT COMPANY | NOTE 3: LOAN TO PARENT COMPANY SCHEDULE OF LOAN TO PARENT COMPANY
|  | As of June 30 2025 |  |  | As of December 31 2024 |
Loan to Parent Company |  | $ | - |  |  | $ | 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 bore interest at a rate 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. On April 10, 2025, the Company’s board of directors approved the redemption of the loan between Gix Media and the Parent Company. As a result, Gix Media and the Parent Company entered into a redemption agreement, effective as of May 27, 2025, pursuant to which the outstanding loan was redeemed in consideration for the transfer to Gix Media of all of the Parent Company’s intangible assets, including, inter alia, intellectual property rights, trademarks, software, algorithms, domains, technological know-how and any other intangible asset (the “Redemption”). Since this transaction is between entities under common control, the intangible assets received from the Parent Company were recorded at their historical carrying amount as they were recorded at the Parent Company’s financial statements which is $0. As a result, the outstanding loan amount including accrued interest, totaling $4,048, was redeemed in full. The Redemption was recorded as an increase to the accumulated deficit in the Company’s statement of changes in shareholders equity for the six months period ended June 30, 2025. For the six months ended June 30, 2025 and 2024, Gix Media recognized interest income in the amount of $63 and $79, respectively.

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