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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases |
NOTE 4 – | LEASES
The Company has entered into several non-cancellable operating lease agreements for the Company’s offices and three vehicles. the Company’s leases have original lease periods expiring between 2020 and 2023. Payments due under such lease contracts include primarily fixed payments. the Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. the company’s 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:
|  | In thousand of US dollars |
|  | December 31, 2020 |
Operating lease cost: |  |  |  |
Office space |  |  | 101 |
Vehicles |  |  | 71 |
|  |  | 172 |
Remaining Lease Term |  |  |  |
Office space |  |  | 0.67 years |
Vehicles |  |  | 2.33 years |
Weighted Average Discount Rate |  |  |  |
Office space |  |  | 10 | %
Vehicles |  |  | 10 | %
The following is a schedule, by years, of maturities of operating lease liabilities as of December 31, 2020:
|  | In thousand of US dollars |
|  | December 31, 2020 |
Period: |  |  |  |
2021 |  |  | 136 |
2022 |  |  | 28 |
2023 |  |  | 12 |
Total operating lease payments |  |  | 176 |
Less: imputed interest |  |  | 10 |
Present value of lease liabilities |  |  | 166 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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