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Assets Held for Sale

12 Months Ended

Dec. 31, 2022

Assets Held for Sale [Abstract]

ASSETS HELD FOR SALE

NOTE 8:- ASSETS HELD FOR SALE

On March 8, 2023, the Company entered into a Member Interest Purchase Agreement (“MIPA”) and a related Equipment Purchase and Sale Agreement (“EPSA”) with BMF HOLDING GP PTE. LTD.  Pursuant to the MIPA, the Company sold all its member interests in Luna Squares Texas LLC, a Delaware limited liability company, which is a wholly-owned subsidiary of Company, and holds 4 leases in Texas and various related contracts, as well as 59 transformers it held separately in connection with those Texas leases.

From November 9, 2022 these assets were classified as held for sale, from this date depreciation and amortization on the property and equipment and the leases ceased. As at December 31, 2022 the assets included in the sale are stated at carrying value and comprised of the following assets.

		December 31, 2022
Property and equipment			4,289,684
Security deposit			1,010,716
Operating lease right-of-use asset			145,659
Assets held for sale			5,446,059

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- Definition

Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

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- References

No definition available.

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