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Commitments and Contingent Liabilities | 12 Months Ended
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Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingent Liabilities |
NOTE 9 – | COMMITMENTS AND CONTINGENT LIABILITIES
| A. | On March 4, 2004, the OCS provided Integrity Israel with a grant of approximately $93 thousand (NIS 420 thousand), for its plan to develop a non-invasive blood glucose monitor (the “Development Plan”). Integrity Israel is required to pay royalties to the OCS at a rate ranging between 3-5% of the proceeds from the sale of the Group’s products arising from the Development Plan up to an amount equal to $93 thousand, plus interest at LIBOR from the date of grant. As of December 31, 2020, the remaining contingent liability with respect to royalty payment on future sales equals approximately $43 thousand, excluding interest. Such contingent obligation has no expiration date.
|  | As of December 31, 2020, and 2019, the Group accrued royalties to the OCS in insignificant amounts.
| B. | Integrity Israel leases approximately 5,500 sq. ft. of office space in the city of Ashdod, Israel for its principal offices. The lease term began on December 1, 2015 for a period of 5 years which has been extended on august 2020 for an additional 1 year at the option of the Company. Monthly lease payments including maintenance approximate $10 thousand. The Company estimates that its minimal rent and maintenance payments for the remaining original lease term, will approximate $120 thousand Per year over each of the next 9 months. In connection with the lease agreement, Integrity Israel provided the landlord a bank guarantee in the amount of approximately $43 thousand. (NIS 137 thousand.) that can be exercised by the landlord in the case Integrity Israel fails to pay the monthly rent payments. The guarantee is renewed on an annual basis for a period of 4 years and is secured by funds on deposit with the bank, which generally must be sufficient to cover the principal amount guarantee.
| C. | On August 1, 2017 the Company entered into an Advisory Agreement with AGI, pursuant to which the Company retained AGI on a non-exclusive basis to provide certain advisory services to the Company for a period of 9 months which was subsequently extended twice and was in effect to October 31, 2019.
|  | The Company paid the Placement Agent approximately $2 million for placement services. and $834 thousand for placement services and Advisory services (see above) in cash during 2020 and 2019. In addition, during the year ending December 31, 2020 and 2019, $756 and $249 thousand, respectively, representing the fair value of warrants issued as consideration for placement agent services to AGI. This amount was accounted for as Warrants with down-round protection. Upon issuance, the fair value was recognized as an increase in additional paid in capital.

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