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Leases
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases

NOTE 3 – LEASES

 

The company has entered into several non-cancelable operating lease agreements for the company’s offices and few vehicles. The company’s leases have original lease periods expiring between 2021 and 2023. Payments due under such lease contracts include primarily fix payments. The company does not assume renewals in the 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:

 

    US dollars  
    Three Months Ended  
    March 31, 2021  
    (unaudited)  
Operating lease cost:        
Office space     29  
Vehicles     15  
      44  
Remaining Lease Term        
Office space     0.42 years  
vehicles     2.29 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 March 31, 2021:

 

    US dollars  
    March 31, 2021  
    (unaudited)  
Period:        
The remainder of 2021     101  
2022     40  
2023     22  
Total operating lease payments     163  
Less: imputed interest     14  
Present value of lease liabilities     149