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Leases
 6 Months Ended
Jun. 30, 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 
   Six Months Ended 
   June 30, 2019 
    (unaudited) 
Operating lease cost:     
Office space   60,000 
vehicle   3,826 
    63,826 
Remaining Lease Term     
Office space   1.42 years 
vehicle   1.92 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 June 30, 2019:

 

   US dollars 
   June 30, 2019 
    (unaudited) 
Period:     
The remainder of 2019   63,878 
2020   117,758 
2021   3,878 
Total operating lease payments   185,514 
Less: imputed interest   12,564 
Present value of lease liabilities   172,950