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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Eltek Ltd | NASDAQ:ELTK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 0.63% | 9.51 | 9.45 | 9.67 | 9.54 | 9.40 | 9.40 | 11,568 | 01:00:00 |
|
Eltek Ltd.
(Registrant)
By: /s/Ron Freund
Ron Freund
Chief Financial Officer
|
Page | |
F-2 - F-3 | |
F-4 | |
F-5 - F-6 | |
F-7 - F-8 | |
F-9 - F-17 |
June 30,
|
December 31,
|
||||||||||
Note
|
2023
|
2022
|
|||||||||
Unaudited
|
|||||||||||
ASSETS
|
|||||||||||
CURRENT ASSETS:
|
|||||||||||
Cash and cash equivalents
|
3
|
|
|
||||||||
Trade receivables (net of allowance for doubtful accounts of $
|
|
|
|||||||||
Inventories
|
4
|
|
|
||||||||
Other accounts receivable and prepaid expenses
|
|
|
|||||||||
Total current assets
|
|
|
|||||||||
LONG-TERM ASSETS:
|
|||||||||||
Severance pay fund
|
|
|
|||||||||
Restricted deposit
|
|
|
|||||||||
Long-term tax receivables
|
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|
|||||||||
Deferred tax asset, net
|
|
|
|||||||||
Operating lease right-of-use assets
|
|
|
|||||||||
|
|
||||||||||
Property and equipment, net
|
|
|
|||||||||
Total long-term assets
|
|
|
|||||||||
Total assets
|
|
|
F - 2
June 30,
|
December 31,
|
||||||||||
Note
|
2023
|
2022
|
|||||||||
Unaudited
|
|||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|||||||||||
CURRENT LIABILITIES:
|
|||||||||||
Current maturities of long-term debt
|
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|
|||||||||
Trade payables
|
|
|
|||||||||
Other accounts payable and accrued expenses
|
|
|
|||||||||
Short-term operating lease liabilities
|
|
|
|||||||||
Total current liabilities
|
|
|
|||||||||
LONG-TERM LIABILITIES:
|
|||||||||||
Long-term debt, excluding current maturities
|
|
|
|||||||||
Accrued severance pay
|
|
|
|||||||||
Long-term operating lease liabilities
|
|
|
|||||||||
Total long-term liabilities
|
|
|
|||||||||
COMMITMENTS AND CONTINGENT LIABILITIES
|
5
|
|
|
||||||||
SHAREHOLDERS' EQUITY:
|
6
|
||||||||||
Share capital -
|
|||||||||||
Ordinary shares of NIS
Authorized:
|
|
|
|||||||||
Additional paid-in capital
|
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|
|||||||||
Foreign currency translation adjustments
|
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|
|||||||||
Capital reserves
|
|
|
|||||||||
Accumulated deficit
|
(
|
)
|
(
|
)
|
|||||||
Total shareholders' equity
|
|
|
|||||||||
Total liabilities and shareholders' equity
|
|
|
F - 3
|
Note
|
Six months ended June 30,
|
Three months ended June 30,
|
||||||||||||||||
|
2023
|
2022
|
2023
|
2022
|
|||||||||||||||
Unaudited
|
|||||||||||||||||||
Revenues
|
7
|
|
|
|
|
||||||||||||||
Cost of revenues
|
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|
|||||||||||||||
Gross profit
|
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|
|||||||||||||||
Operating expenses:
|
|||||||||||||||||||
Research and development, net
|
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|
|||||||||||||||
Selling, general and administrative
|
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|
|||||||||||||||
Operating income
|
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|
|||||||||||||||
Finance income, net
|
|
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|
|||||||||||||||
Income before income taxes
|
|
|
|
|
|||||||||||||||
Taxes on income
|
8
|
|
|
|
|
||||||||||||||
Net income
|
|
|
|
|
|||||||||||||||
|
|||||||||||||||||||
Other comprehensive income (loss):
|
|||||||||||||||||||
Foreign currency translation adjustments
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|||||||||||
Total comprehensive income (loss)
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
|
|||||||||||||||||||
Basic and diluted income per ordinary share
|
|
|
|
|
F - 4
Company's shareholders
|
||||||||||||||||||||||||||||
Ordinary
shares
|
Amount
|
Additional
paid-in
capital
|
Accumulated
other
comprehensive
income (loss)
|
Capital
reserves
|
Accumulated
deficit
|
Total
|
||||||||||||||||||||||
Balance as of April 1, 2023
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Share-based compensation
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Exercise of stock options
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
-
|
|
|
(
|
) |
|
|
(
|
)
|
|||||||||||||||||||
Net income
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2023
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Balance as of April 1, 2022
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Share-based compensation
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
-
|
|
|
(
|
) |
|
|
(
|
)
|
|||||||||||||||||||
Net income
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2022
|
|
|
|
|
|
(
|
)
|
|
F - 5
Company's shareholders
|
||||||||||||||||||||||||||||
Ordinary
shares
|
Amount
|
Additional
paid-in
capital
|
Accumulated
other
comprehensive
income (loss)
|
Capital
reserves
|
Accumulated
deficit
|
Total
|
||||||||||||||||||||||
Balance as of January 1, 2023
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Share-based compensation
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Exercise of stock options
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
-
|
|
|
(
|
) |
|
|
(
|
)
|
|||||||||||||||||||
Net income
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2023
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Balance as of January 1, 2022
|
|
|
|
|
|
(
|
)
|
|
||||||||||||||||||||
Share-based compensation
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Exercise of stock options
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
-
|
|
|
(
|
) |
|
|
(
|
)
|
|||||||||||||||||||
Net income
|
-
|
|
|
|
|
|
|
|||||||||||||||||||||
Balance as of June 30, 2022
|
|
|
|
|
|
(
|
)
|
|
F - 6
Six months ended
June 30,
|
||||||||
2023
|
2022
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net income
|
|
|
||||||
Adjustments required to reconcile net income to net cash flows provided by operating activities:
|
||||||||
Depreciation
|
|
|
||||||
Share-based compensation
|
|
|
||||||
Changes in deferred income tax assets, net
|
|
|
||||||
Increase (decrease) in employee severance benefits, net
|
|
|
||||||
Decrease (increase) in trade receivables, net
|
(
|
)
|
(
|
)
|
||||
Decrease (increase) in operating lease right-of-use assets
|
|
|
||||||
Increase (decrease) in operating lease liabilities
|
(
|
)
|
(
|
)
|
||||
Decrease (increase) in other receivables and prepaid expenses
|
(
|
)
|
|
|||||
Decrease (increase) in inventories
|
(
|
)
|
(
|
)
|
||||
Increase (decrease) in trade payables
|
|
|
||||||
Increase (decrease) in other liabilities and accrued expenses
|
|
|
||||||
Net cash provided by operating activities
|
|
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Purchase of property and equipment
|
(
|
)
|
(
|
)
|
||||
Insurance Proceeds
|
|
|
||||||
Restricted deposits
|
|
|
(
|
)
|
||||
Net cash used in investing activities
|
|
(
|
)
|
|||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Exercise of options
|
|
|
||||||
Repayment of long-term loans
|
(
|
)
|
(
|
)
|
||||
Repayment of property and equipment payables
|
|
(
|
)
|
|||||
Net cash used in financing activities
|
(
|
)
|
(
|
)
|
F - 7
Six months ended
June 30,
|
||||||||
2023
|
2022
|
|||||||
Effect of exchange rate on cash and cash equivalents
|
(
|
)
|
(
|
)
|
||||
Increase (decrease) in cash and cash equivalents
|
|
(
|
)
|
|||||
Cash and cash equivalents at the beginning of the year
|
|
|
||||||
Cash and cash equivalents at end of the year
|
|
|
||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
|
||||||||
Cash paid during the period for:
|
||||||||
Interest
|
|
|
F - 8
U.S. dollars in thousands (except share and per share data)
NOTE 1:- |
DESCRIPTION OF BUSINESS AND GENERAL
|
a. |
General:
Eltek Ltd. ("the Company") was established in Israel in 1970, and its ordinary shares have been publicly traded on the NASDAQ Capital Market ("NASDAQ") since 1997. Eltek Ltd. and its subsidiaries (Eltek USA Inc. and Eltek Europe GmbH) are collectively referred to as "the Company". As of June 30, 2023, Eltek Europe GmbH is inactive.
The Company manufactures, markets and sells custom made printed circuit boards ("PCBs") including, high density interconnect, flex-rigid and multi-layered boards. The principal markets of the Company are in Israel, Europe, North America and India.
The Company markets its products mainly to the medical device, defense and aerospace, industrial, telecom and networking equipment industries, as well as to contract electronic manufacturers.
The Company is controlled by Nistec Golan Ltd ("Nistec Golan"). Nistec Golan is controlled indirectly by Mr. Yitzhak Nissan, who owns, indirectly through Nistec Holdings Ltd., all of the shares of Nistec Golan (Nistec Holdings Ltd. and/or any of its subsidiaries are referred to as "Nistec").
|
b. |
Financial covenants:
The Company is required to maintain certain financial covenants, including: (i) adjusted shareholders' equity (excluding certain intangible and other assets) equal to the greater of $
|
c. |
Business risks and condition:
The Company’s business is subject to numerous risks including, but not limited to, the impact of currency exchange rates (mainly NIS/US$), the Company's ability to implement its sales and manufacturing plans, the impact of competition from other companies, the Company's ability to receive regulatory clearance or approval to market its products, changes in regulatory environment, domestic and global economic conditions and industry conditions, and compliance with environmental laws and regulations.
As of June 30, 2023, the Company's working capital amounted to $
|
F - 9
U.S. dollars in thousands (except share and per share data)
NOTE 2:- |
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
|
The accompanying consolidated unaudited financial statements have been prepared in a condensed format and include the consolidated unaudited financial operations of the Company as of June 30, 2023 and for the six month periods then ended, in accordance with U.S. GAAP, relating to the preparation of financial statements for interim periods.
Accordingly, the accompanying consolidated unaudited financial statements do not include all the information and footnotes required by generally accepted accounting principles for a complete set of financial statements. These consolidated unaudited financial statements should be read in conjunction with the audited financial statements and the accompanying notes of the Company for the year ended December 31, 2022 that are included in the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 29, 2023 (the "Annual Report"). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023, are not necessarily indicative of the results that may be expected for the year ended December 31, 2023.
|
NOTE 3:- |
CASH AND CASH EQUIVALENTS
|
June 30,
|
December 31,
|
|||||||
2023
|
2022
|
|||||||
Unaudited
|
||||||||
Denominated in U.S. dollars
|
|
|
||||||
Denominated in NIS
|
|
|
||||||
Denominated in Euro
|
|
|
||||||
|
|
NOTE 4:- |
INVENTORIES
|
June 30,
|
December 31,
|
|||||||
2023
|
2022
|
|||||||
Unaudited
|
||||||||
Raw materials
|
|
|
||||||
Work-in-progress
|
|
|
||||||
Finished goods
|
|
|
||||||
|
|
During the periods ended June 30, 2023 and June 30, 2022, the Company recorded inventory write-offs in the amounts of $
|
F - 10
U.S. dollars in thousands (except share and per share data)
NOTE 5:- |
COMMITMENTS AND CONTINGENT LIABILITIES
|
a. |
Pledges:
|
1. |
The Company has pledged certain items of its equipment and the rights to any insurance claims on such items to secure its debts to banks, as well as placed floating liens on all of its remaining assets in favor of the banks.
|
2. |
The Company has also pledged machines to secure its indebtedness to certain suppliers that provided financing for such equipment.
|
b. |
Indemnification agreement:
The Company entered into indemnification agreements with each of its directors and officers and undertook to enter into the same agreement with future directors and officers. Such indemnification amount will not exceed: (i) the value of
|
|
F - 11
U.S. dollars in thousands (except share and per share data)
NOTE 5:- |
COMMITMENTS AND CONTINGENT LIABILITIES (CONT.)
|
The Israeli Companies Law provides that an Israeli company cannot exculpate an officer holder from liability with respect to a breach of his or her duty of loyalty. If permitted by its articles of association, a company may exculpate in advance an officer from his or her liability to the company, in whole or in part, with respect to a breach of his or her duty of care. However, a company may not exculpate in advance a director from his or her liability to the company with respect to a breach of his duty of care with respect to distributions.
The Company's articles of association allow it to exculpate any officer holder from his or her liability for breach of duty of care, to the maximum extent permitted by law, before or after the occurrence giving rise to such liability.
|
c. |
Contingent Liabilities:
Environmental Related Matters
In March 2019, representatives of the Ministry of Environmental Protection inspected the Company's premises and issued a warning related to an alleged breach of the Clean Air Law and a warning related to the Hazardous Materials Law (1993). On July 18, 2022, the Company received a notification from the Ministry of Environmental Protection about its intention to impose a penalty of approximately $
In January 2023, the Company received a notification from the Ministry of Environmental Protection about its intention to impose a penalty of approximately $
|
F - 12
U.S. dollars in thousands (except share and per share data)
NOTE 5:- |
COMMITMENTS AND CONTINGENT LIABILITIES (CONT.)
|
Employee related matters
In May 2008, June 2019 and November 2019, lawsuits were filed by three employees alleging that they had suffered personal injuries during their employment and they are seeking aggregate financial compensation of approximately $
In January 2011 and December 2019, five additional employees notified the Company that they allegedly suffered personal injuries during their employment with the Company. Of these five employees, two are seeking compensation of $
The above-mentioned claims were submitted to the Company’s insurance company, which informed the Company that it is reviewing the statements of claim without prejudicing its rights to deny coverage.
During the period February 2019 through October 2020,
|
NOTE 6:- |
SHAREHOLDERS' EQUITY
|
Stock Option Plan:
The Company’s 2018 Share Incentive Plan (the "Plan") authorizes the grant of options to purchase shares and restricted shares units (“RSUs”) to officers, employees, directors and consultants of the Company and its subsidiaries. Awards granted under the Plan to participants in various jurisdictions may be subject to specific terms and conditions for such grants as may be approved by the Company’s board from time to time.
Each option granted under the Plan is exercisable for a period of
As of June 30, 2023 options to purchase
|
||
F - 13
U.S. dollars in thousands (except share and per share data)
NOTE 6:- |
SHAREHOLDERS' EQUITY (CONT.)
|
A summary of employee option activity under the Plan as of June 30, 2023 and changes during the six months period ended June 30, 2023 are as follows:
|
Number of
options
|
Weighted-average exercise
price
|
Weighted- average remaining contractual life
(in months)
|
Aggregate intrinsic
value
(in thousands)
|
|||||||||||||
Outstanding at January 1, 2023
|
|
|
|
|
||||||||||||
Exercised
|
|
|
-
|
-
|
||||||||||||
Forfeited
|
|
|
-
|
-
|
||||||||||||
Outstanding at June 30, 2023
|
|
|
|
|
||||||||||||
Exercisable at June 30, 2023
|
|
|
|
|
The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company's closing share price on the last trading day of the second quarter of fiscal 2023 and the exercise price, multiplied by the number of in-the-money options). This amount changes based on the fair market value of the Company's share. As of June 30, 2023, there was approximately $
|
NOTE 7:- |
ENTITY WIDE DISCLOSURES
|
a. |
Customers who accounted for over 10% of the total consolidated revenues:
|
Six months ended
June 30,
|
Three months ended
June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Unaudited
|
||||||||||||||||
Customer A - sales of manufactured products
|
|
%
|
|
%
|
|
%
|
|
%
|
||||||||
Customer B - Sales of manufactured products
|
|
%
|
|
%
|
|
%
|
|
%
|
b. |
Revenues by geographic areas:
|
Six months ended
June 30,
|
Three months ended
June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Unaudited
|
||||||||||||||||
Israel
|
|
|
|
|
||||||||||||
North America
|
|
|
|
|
||||||||||||
Netherlands
|
|
|
|
|
||||||||||||
India
|
|
|
|
|
||||||||||||
Others
|
|
|
|
|
||||||||||||
|
|
|
|
F - 14
U.S. dollars in thousands (except share and per share data)
NOTE 8:- |
TAXES ON INCOME
|
a. |
Deferred tax assets and liabilities:
The Company has net operating loss carryforwards for tax purposes of approximately $
|
b. |
Reconciliation of the theoretical income tax expense to the actual income tax expense:
For the six months period ended June 30, 2023 and 2022 the main differences between the theoretical tax expenses (statutory tax rate of
|
NOTE 9:- |
RELATED PARTY BALANCES AND TRANSACTIONS
|
Nistec, the controlling shareholder of the Company, is also a customer of the Company. The Company sells products to Nistec, pays management fees to Nistec, purchases certain services from Nistec and shares certain expenses with Nistec, for services that it acquires jointly with Nistec. The Company's transactions with Nistec were carried out on an arm's-length basis.
|
a. |
Balances with related parties:
|
Six months ended
June 30,
|
Year ended
December 31,
|
|||||||
2023
|
2022
|
|||||||
Unaudited
|
||||||||
Trade accounts receivable
|
|
|
||||||
Trade accounts payable
|
|
|
b. |
Transactions with related parties:
|
Six months ended
June 30,
|
Three months ended
June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Unaudited
|
||||||||||||||||
Revenues
|
|
|
|
|
||||||||||||
Purchases, selling, general and administrative expenses
|
|
|
|
|
F - 15
U.S. dollars in thousands (except share and per share data)
NOTE 9:- |
RELATED PARTY BALANCES AND TRANSACTIONS (CONT.)
|
PCB purchases by Nistec - Nistec purchases PCBs from the Company solely to provide assembled boards to its customers. The Company sells to Nistec based on its standard pricing, which may be subject to a discount of up to ten percent (
Soldering and assembly services - The Company may acquire soldering services and/or purchase services from Nistec. Nistec’s pricing for its soldering services will be its standard pricing (the “Pricing”), less a five percent (
Managements fees - In September 2019, the Company's Audit Committee, Compensation Committee and Board of Directors, as applicable, approved the terms of the amended Management Agreement. This amended Management Agreement was approved by the Company's shareholders in the annual general meeting, held on December 5, 2019. Nistec is entitled to a monthly management fee of NIS
Subject to Company’s reimbursement policy approved by the Audit Committee on May 15, 2016, Mr. Nissan receives reimbursement of travel expenses (other than food and beverage expenses) while traveling internationally on behalf of the Company, provided that such reimbursement will not exceed an aggregate amount of NIS
|
||
F - 16
U.S. dollars in thousands (except share and per share data)
NOTE 9:- |
RELATED PARTY BALANCES AND TRANSACTIONS (CONT.)
|
In addition, the Company's shareholders in the annual general meetings held on December 5, 2019, October 29, 2020 and August 31, 2022 approved the following:
|
a. |
The extension of the Directors and Officers Indemnity Agreement with Mr. Yitzhak Nissan.
|
b. |
The extension of the Exculpation Letter for an additional three (3) year period
|
c. |
The application of the Company’s directors and officers' liability insurance policy with respect to Mr. Yitzhak Nissan
|
d. |
The revised terms of employment of Yitzhak Nissan's daughter who is employed by the Company as a special project manager.
|
NOTE 10:- |
SUBSEQUENT EVENTS
|
Subsequent to the balance sheet date, the Company's Board of Directors approved the grant of
In addition, the Board has approved grants of
|
F - 17
Document And Entity Information |
6 Months Ended |
---|---|
Jun. 30, 2023 | |
Entity Registrant Name | Eltek Ltd. |
Entity Central Index Key | 0001024672 |
Amendment Flag | false |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Entity File Number | 000-28884 |
Entity Address, Address Line One | Sgoola Industrial Zone |
Entity Address, City or Town | Petach Tikva |
Entity Address, Country | IL |
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands |
Jun. 30, 2023
₪ / shares
|
Jun. 30, 2023
USD ($)
shares
|
Dec. 31, 2022
₪ / shares
|
Dec. 31, 2022
USD ($)
shares
|
---|---|---|---|---|
Statement of Financial Position [Abstract] | ||||
Allowance for doubtful accounts | $ | $ 310 | $ 162 | ||
Ordinary shares, par value | ₪ / shares | ₪ 3 | ₪ 3 | ||
Ordinary shares, shares authorized | 10,000,000 | 10,000,000 | ||
Ordinary shares, shares issued | 5,907,715 | 5,849,678 | ||
Ordinary shares, shares outstanding | 5,907,715 | 5,849,678 |
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Income Statement [Abstract] | ||||
Revenues | $ 11,043 | $ 9,089 | $ 22,513 | $ 18,844 |
Cost of revenues | 8,091 | 7,411 | 16,546 | 15,205 |
Gross profit | 2,952 | 1,678 | 5,967 | 3,639 |
Operating expenses: | ||||
Research and development, net | 15 | 26 | 24 | 44 |
Selling, general and administrative | 1,543 | 1,306 | 2,960 | 2,598 |
Operating income | 1,394 | 346 | 2,983 | 997 |
Finance income, net | 190 | 611 | 477 | 732 |
Income before income taxes | 1,584 | 957 | 3,460 | 1,729 |
Taxes on income | 271 | 204 | 585 | 344 |
Net income | 1,313 | 753 | 2,875 | 1,385 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | (468) | (1,930) | (1,049) | (2,352) |
Total comprehensive income (loss) | $ 845 | $ (1,177) | $ 1,826 | $ (967) |
Basic income per ordinary share | $ 0.22 | $ 0.13 | $ 0.49 | $ 0.24 |
Diluted income per ordinary share | $ 0.22 | $ 0.13 | $ 0.49 | $ 0.24 |
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands |
Ordinary shares [Member] |
Additional paid-in capital [Member] |
Accumulated other comprehensive income [Member] |
Capital reserves [Member] |
Accumulated deficit [Member] |
Total |
---|---|---|---|---|---|---|
Balance at Dec. 31, 2021 | $ 5,296 | $ 22,846 | $ 3,716 | $ 1,287 | $ (12,073) | $ 21,072 |
Balance, shares at Dec. 31, 2021 | 5,840,357 | |||||
Share-based compensation | $ 0 | 0 | 0 | 117 | 0 | 117 |
Exercise of stock options | $ 9 | 16 | 0 | 0 | 0 | 25 |
Exercise of stock options, shares | 9,321 | |||||
Comprehensive income: | ||||||
Foreign currency translation adjustments | $ 0 | 0 | (2,352) | 0 | 0 | (2,352) |
Net income | 0 | 0 | 0 | 0 | 1,385 | 1,385 |
Balance at Jun. 30, 2022 | $ 5,305 | 22,862 | 1,364 | 1,404 | (10,688) | 20,247 |
Balance, shares at Jun. 30, 2022 | 5,849,678 | |||||
Balance at Mar. 31, 2022 | $ 5,305 | 22,862 | 3,294 | 1,340 | (11,441) | 21,360 |
Balance, shares at Mar. 31, 2022 | 5,849,678 | |||||
Share-based compensation | $ 0 | 0 | 0 | 64 | 0 | 64 |
Comprehensive income: | ||||||
Foreign currency translation adjustments | 0 | 0 | (1,930) | 0 | 0 | (1,930) |
Net income | 0 | 0 | 0 | 0 | 753 | 753 |
Balance at Jun. 30, 2022 | $ 5,305 | 22,862 | 1,364 | 1,404 | (10,688) | 20,247 |
Balance, shares at Jun. 30, 2022 | 5,849,678 | |||||
Balance at Dec. 31, 2022 | $ 5,305 | 22,862 | 1,189 | 1,537 | (9,873) | $ 21,020 |
Balance, shares at Dec. 31, 2022 | 5,849,678 | 5,849,678 | ||||
Share-based compensation | $ 0 | 0 | 0 | 144 | 0 | $ 144 |
Exercise of stock options | $ 48 | 251 | 0 | 0 | 0 | $ 299 |
Exercise of stock options, shares | 58,037 | 58,037 | ||||
Comprehensive income: | ||||||
Foreign currency translation adjustments | $ 0 | 0 | (1,049) | 0 | 0 | $ (1,049) |
Net income | 0 | 0 | 0 | 0 | 2,875 | 2,875 |
Balance at Jun. 30, 2023 | $ 5,353 | 23,113 | 140 | 1,681 | (6,998) | $ 23,289 |
Balance, shares at Jun. 30, 2023 | 5,907,715 | 5,907,715 | ||||
Balance at Mar. 31, 2023 | $ 5,305 | 22,862 | 608 | 1,609 | (8,311) | $ 22,073 |
Balance, shares at Mar. 31, 2023 | 5,849,678 | |||||
Share-based compensation | $ 0 | 0 | 0 | 72 | 0 | 72 |
Exercise of stock options | $ 48 | 251 | 0 | 0 | 0 | 299 |
Exercise of stock options, shares | 58,037 | |||||
Comprehensive income: | ||||||
Foreign currency translation adjustments | $ 0 | 0 | (468) | 0 | 0 | (468) |
Net income | 0 | 0 | 0 | 0 | 1,313 | 1,313 |
Balance at Jun. 30, 2023 | $ 5,353 | $ 23,113 | $ 140 | $ 1,681 | $ (6,998) | $ 23,289 |
Balance, shares at Jun. 30, 2023 | 5,907,715 | 5,907,715 |
DESCRIPTION OF BUSINESS AND GENERAL |
6 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||
DESCRIPTION OF BUSINESS AND GENERAL |
|
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS |
6 Months Ended | ||||
---|---|---|---|---|---|
Jun. 30, 2023 | |||||
Consolidated Unaudited Financial Statements [Abstract] | |||||
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS |
|
CASH AND CASH EQUIVALENTS |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS |
|
INVENTORIES |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory, Net [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INVENTORIES |
|
COMMITMENTS AND CONTINGENT LIABILITIES |
6 Months Ended | ||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | |||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENT LIABILITIES |
|
SHAREHOLDERS' EQUITY |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SHAREHOLDERS' EQUITY |
|
ENTITY WIDE DISCLOSURES |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ENTITY WIDE DISCLOSURES |
|
TAXES ON INCOME |
6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
TAXES ON INCOME |
|
RELATED PARTY BALANCES AND TRANSACTIONS |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RELATED PARTY BALANCES AND TRANSACTIONS |
|
SUBSEQUENT EVENTS |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||
Subsequent Events [Abstract] | ||||||
SUBSEQUENT EVENTS |
|
CASH AND CASH EQUIVALENTS (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Cash and Cash Equivalents |
|
INVENTORIES (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory, Net [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Inventories |
|
SHAREHOLDERS' EQUITY (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Employee Option Activity |
|
ENTITY WIDE DISCLOSURES (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Customers Who Accounted For Over 10% Of The Total Consolidated Revenues |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Revenues By Geographic Areas |
|
RELATED PARTY BALANCES AND TRANSACTIONS (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Balances And Transactions |
|
DESCRIPTION OF BUSINESS AND GENERAL (Narrative) (Details) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Minimum shareholder's equity to be maintained under debt covenants | $ 4,500 | |
Ratio of shareholders' equity to total assets required to be maintained under debt covenants | 17.00% | |
Debt service ratio required to be maintained under debt covenants | 1.5 | |
Working capital | $ 14,600 | |
Accumulated deficit | $ (6,998) | $ (9,873) |
CASH AND CASH EQUIVALENTS (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Cash and Cash Equivalents [Line Items] | ||
Cash | $ 8,330 | $ 7,366 |
Denominated in U.S. dollars [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cash | 3,235 | 2,334 |
Denominated in NIS [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cash | 3,498 | 2,620 |
Denominated in Euro [Member] | ||
Cash and Cash Equivalents [Line Items] | ||
Cash | $ 1,597 | $ 2,412 |
INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Inventory, Net [Abstract] | |||
Raw materials | $ 2,247 | $ 2,201 | |
Work-in-progress | 2,985 | 2,468 | |
Finished goods | 456 | 461 | |
Total inventories | 5,688 | $ 5,130 | |
Inventory write-offs | $ 192 | $ 126 |
COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) |
1 Months Ended | 6 Months Ended | 21 Months Ended | |
---|---|---|---|---|
Jan. 31, 2023
USD ($)
|
Jul. 18, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
|
Oct. 31, 2020
USD ($)
Former_Employees
|
|
Indemnification agreement limit as a percentage of shareholders' equity | 25.00% | |||
Amount of net equity of indemnification | $ 3,000,000 | |||
Number of former employees filing lawsuits | Former_Employees | 2 | |||
Financial compensation sought for past damages plus additional amounts for future lost income and pain and suffering | 121,000 | $ 345,000 | ||
Penalty amount | $ 600,000 | $ 100,000 | ||
Other Employees [Member] | ||||
Financial compensation sought for past damages plus additional amounts for future lost income and pain and suffering | $ 1,700,000 |
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Options exercised | 58,037 | |
Share-based compensation | $ 144 | $ 117 |
Unrecognized compensation costs | $ 527 | |
Unrecognized compensation costs, period | 4 years | |
Share Incentive Plan 2018 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercisable period | 10 years | |
Share Incentive Plan 2019 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Options exercised | 337,134 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 5.07 |
SHAREHOLDERS' EQUITY (Schedule of Employee Option Activity) (Details) $ / shares in Units, $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2023
USD ($)
$ / shares
shares
|
Dec. 31, 2022
USD ($)
$ / shares
shares
|
|
Number of options | ||
Outstanding at January 1, 2023 | shares | 395,171 | |
Exercised | shares | 58,037 | |
Forfeited | shares | 0 | |
Outstanding at June 30, 2023 | shares | 337,134 | 395,171 |
Exercisable at June 30, 2023 | shares | 193,046 | |
Weighted-average exercise price | ||
Outstanding at January 1, 2023 | $ / shares | $ 5.25 | |
Exercised | $ / shares | 5.15 | |
Forfeited | $ / shares | 0 | |
Outstanding at June 30, 2023 | $ / shares | 5.07 | $ 5.25 |
Exercisable at June 30, 2023 | $ / shares | $ 4.9 | |
Weighted- average remaining contractual life (in months) | ||
Outstanding | 91 months | 95 months |
Exercisable at June 30, 2023 | 86 months | |
Aggregate intrinsic value | ||
Outstanding | $ | $ 1,442 | $ 1 |
Exercisable at June 30, 2023 | $ | $ 859 |
ENTITY WIDE DISCLOSURES (Schedule of Customers who Accounted For Over 10% of Total Consolidated Revenues) (Details) - Revenue [Member] - Customer Concentration Risk [Member] |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Customer A [Member] | ||||
Product Information [Line Items] | ||||
Sales of manufactured products | 13.50% | 17.90% | 14.40% | 20.20% |
Customer B [Member] | ||||
Product Information [Line Items] | ||||
Sales of manufactured products | 11.90% | 9.30% | 11.00% | 9.80% |
ENTITY WIDE DISCLOSURES (Schedule of Revenues by Geographic Areas) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Segment Reporting Information [Line Items] | ||||
Revenues | $ 11,043 | $ 9,089 | $ 22,513 | $ 18,844 |
Israel [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 6,332 | 5,314 | 11,548 | 10,808 |
North America [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,826 | 1,773 | 2,911 | 3,708 |
Netherlands [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,187 | 618 | 2,884 | 1,402 |
India [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 908 | 752 | 3,222 | 1,366 |
Others [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 790 | $ 632 | $ 1,948 | $ 1,560 |
TAXES ON INCOME (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforward | $ 10.4 | |
Statutory tax rates | 23.00% | 23.00% |
RELATED PARTY BALANCES AND TRANSACTIONS (Narrative) (Details) - Nistec [Member] ₪ in Thousands, $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2023
ILS (₪)
|
Jun. 30, 2023
USD ($)
|
|
Related Party Transaction [Line Items] | ||
Related Party Transaction Discount Rate On Purchases | 10.00% | 10.00% |
Percentage of mark up related to actual price of purchase | 20.00% | 20.00% |
Percentage of discount on excess inventory | 50.00% | 50.00% |
Percentage of standard discount | 5.00% | 5.00% |
Percentage of commission | 14.25% | 14.25% |
Total purchases | ₪ 300 | |
Reimbursement expense | 10,000 | $ 2,700 |
Management Fee Expense | ₪ 90 | $ 28 |
RELATED PARTY BALANCES AND TRANSACTIONS (Schedule of Transactions/Balances with related parties) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Related Party Transactions [Abstract] | |||||
Trade accounts receivable | $ 190 | $ 190 | $ 151 | ||
Trade accounts payable | 277 | 277 | $ 30 | ||
Revenues | 182 | $ 82 | 419 | $ 260 | |
Purchases, selling, general and administrative expenses | $ 288 | $ 78 | $ 365 | $ 263 |
SUBSEQUENT EVENTS (Narrative) (Details) - Subsequent Event [Member] - $ / shares |
1 Months Ended | ||
---|---|---|---|
Oct. 06, 2023 |
Jul. 31, 2023 |
Sep. 30, 2023 |
|
Officers and Employees [Member] | |||
Subsequent Event [Line Items] | |||
Number of option granted | 117,000 | ||
Exercise price per share | $ 9.11 | ||
Options are subjected to approval | 33,000 | ||
Five Board Members [Member] | |||
Subsequent Event [Line Items] | |||
Number of option granted | 10,000 |
1 Year Eltek Chart |
1 Month Eltek Chart |
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