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Long-term Borrowings | 12 Months Ended
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Dec. 31, 2021
Long-Term Borrowings [Abstract] |
LONG-TERM BORROWINGS |
NOTE 12:- | LONG-TERM BORROWINGS
Marshall loan In December 2021 the Company entered into a Secured Loan Facility Agreement with Marshall Investments MIG Pty Ltd. The total loan received prior to year-end was $7.63 million. The loan matures in 2023 and bears interest at a rate of 12.00% per annum, payable monthly which commenced December 2021.The Loan facility is secured by a general security agreement given by the Company. Paycheck protection program (“PPP”) loan During 2020, the Company was granted a PPP loan in the amount of $14,000. The PPP, established as part of the CARES Act, provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. In connection with the PPP loan, the Company issued a promissory note, in the principal amount of $14,000. The loan matures in 2022 and bears interest at a rate of 1.0% per annum, payable monthly which commenced May 21, 2021. The note may be prepaid at any time prior to maturity with no prepayment penalties. Funds from the loan may only be used for payroll costs, benefits, rent, utilities and interest on other debt obligations incurred prior to February 15, 2020. The Company used the entire amount for such qualifying expenses.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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