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Leases
 3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Leases

NOTE 5 – LEASES

 

We have entered into several non-cancelable operating lease agreements for our offices and one vehicle. Our leases have original lease periods expiring between 2019 and 2021. Payments due under such lease contracts include primarily fix payments. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

 

The components of lease costs, lease term and discount rate are as follows:

 

    US dollars  
    Three Months Ended  
    March 31, 2019  
    (unaudited)  
Operating lease cost:        
Office space     30,000  
vehicle     1,907  
      31,907  
Remaining Lease Term        
Office space     1.67 years  
vehicle     2.17 years  
         
Weighted Average Discount Rate        
Office space     10 %
vehicle     10 %

 

The following is a schedule, by years, of maturities of operating lease liabilities as of March 31, 2019:

 

    US dollars  
    March 31, 2019  
    (unaudited)  
Period:        
The remainder of 2019     95,721  
2020     117,628  
2021     3,178  
Total operating lease payments     216,527  
Less: imputed interest     18,203  
Present value of lease liabilities     198,324