Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document And Entity Information | |
Entity Registrant Name | METALINK LTD |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 1,255,640 |
Amendment Flag | false |
Entity Central Index Key | 0001098462 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Non-accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Entity Shell Company | true |
Document Annual Report | true |
Document Shell Company Report | false |
Document Transition Report | false |
Entity File Number | 000-30394 |
Entity Incorporation, State or Country Code | L3 |
Entity Interactive Data Current | Yes |
ICFR Auditor Attestation Flag | false |
BALANCE SHEETS
BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 301 | $ 12 |
Bank deposits | 1,624 | 1,919 |
Total assets | 1,925 | 1,931 |
Current liabilities | ||
Other payables and accrued expenses | 159 | 142 |
Total current liabilities | 159 | 142 |
Shareholders' equity | ||
Ordinary shares of NIS 1.0 par value (5,000,000 shares authorized as of December 31, 2020 and December 31, 2019; 2,780,707 shares issued and 1,255,640 shares outstanding as of December 31, 2020 and December 31, 2019) | 790 | 790 |
Additional paid-in capital | 158,111 | 158,111 |
Accumulated deficit | (145,097) | (145,074) |
Total shareholders' equity before reduction of treasury stock | 13,804 | 13,827 |
Treasury stock, at cost: 1,525,067 shares as of December 31, 2020 and December 31, 2019 | (12,038) | (12,038) |
Total shareholders' equity | 1,766 | 1,789 |
Total liabilities and shareholders' equity | $ 1,925 | $ 1,931 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - ₪ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Ordinary shares, par value (in New Shekels per share) | ₪ 1 | ₪ 1 |
Ordinary shares, shares authorized | 5,000,000 | 5,000,000 |
Ordinary shares, shares issued | 2,780,707 | 2,780,707 |
Ordinary shares, shares outstanding | 1,255,640 | 1,255,640 |
Treasury shares | 1,525,067 | 1,525,067 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | |||
General and administrative (includes director fees in the amount of $8, $7 and $2 in 2020, 2019 and 2018, respectively) | $ 48 | $ 45 | $ 58 |
Operating loss | (48) | (45) | (58) |
Financial income, net | 25 | 49 | 23 |
Net profit (loss) | $ (23) | $ 4 | $ (35) |
Per share data- | |||
Basic and diluted earnings (loss) (in Dollars per share) | $ (0.018) | $ 0.003 | $ (0.028) |
Shares used in computing earnings (loss) per ordinary share: | |||
Basic and diluted (in Shares) | 1,255,640 | 1,255,640 | 1,255,640 |
STATEMENTS OF OPERATIONS (Paren
STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | |||
Director fees | $ 8 | $ 7 | $ 2 |
STATEMENTS OF CHANGES IN SHAREH
STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Share Capital | Treasury Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance at beginning, value at Dec. 31, 2017 | $ 790 | $ (12,038) | $ 158,111 | $ (145,043) | $ 1,820 |
Balance at beginning, shares at Dec. 31, 2017 | 2,780,707 | 1,525,067 | |||
Net loss for the year | (35) | (35) | |||
Balance at ending, value at Dec. 31, 2018 | $ 790 | $ (12,038) | 158,111 | (145,078) | 1,785 |
Balance at ending, shares at Dec. 31, 2018 | 2,780,707 | 1,525,067 | |||
Net loss for the year | 4 | 4 | |||
Balance at ending, value at Dec. 31, 2019 | $ 790 | $ (12,038) | 158,111 | (145,074) | 1,789 |
Balance at ending, shares at Dec. 31, 2019 | 2,780,707 | 1,525,067 | |||
Net loss for the year | (23) | (23) | |||
Balance at ending, value at Dec. 31, 2020 | $ 790 | $ (12,038) | $ 158,111 | $ (145,097) | $ 1,766 |
Balance at ending, shares at Dec. 31, 2020 | 2,780,707 | 1,525,067 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | |||
Net profit (loss) | $ (23) | $ 4 | $ (35) |
Adjustments required to reconcile net profit (loss) to net cash provided by (used in) operating activities (Appendix A) | |||
Deposit revaluation* | (5) | (15) | (4) |
Increase (decrease) in operating liabilities: | |||
Other payables and accrued expenses | 17 | 1 | (5) |
Net cash (used in) continuing operating activities | (11) | (10) | (44) |
Cash flows from investing activities: | |||
Deposits | 300 | (2) | (1,898) |
Net cash provided by (used in) investing activities | 300 | (2) | (1,898) |
Increase (decrease) in cash and cash equivalents | 289 | (12) | (1,942) |
Cash and cash equivalents at beginning of year | 12 | 24 | 1,966 |
Cash and cash equivalents at end of year | $ 301 | $ 12 | $ 24 |
NOTE 1 - GENERAL
NOTE 1 - GENERAL | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
NOTE 1 - GENERAL | NOTE 1 GENERAL Metalink Ltd. (hereinafter: the "Company") is an Israeli company incorporated in September 1992, which until the sale of its WLAN operations in February 2010 was engaged in the WLAN business (see Note 4) and since then, conducted only limited business activities related to its DSL business, which, since March 2016, it no longer conducts. The Company's current plan of operation is to consider strategic alternatives, including a possible business combination, other strategic transaction with a domestic or foreign, private or public operating entity or a "going private" transaction, including with any of its affiliates, and, to a limited extent, voluntary liquidation. |
NOTE 2 - SIGNIFICANT ACCOUNTING
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A. Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. B. Financial Statements in U.S. Dollars The reporting currency of the Company is the U.S. dollar ("dollar" or "$"). The currency of the primary economic environment in which the operations of the Company are conducted is the dollar, and the dollar has been determined to be the Company's functional currency. Transactions and balances originally denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured into dollars in accordance with the principles set forth in Accounting Standards Codification ("ASC") No. 830 (“Foreign Currency Matters”). All exchange gains and losses from re-measurement of monetary balance sheet items resulting from transactions in non-dollar currencies are reflected in the statements of operations as they arise. C. Cash Equivalents Cash equivalents consist of short-term, highly liquid investments like bank deposits, which are readily convertible into cash with original maturities when purchased of three months or less. D. Net Profit (Loss) Per Ordinary Share Basic net profit (loss) per ordinary share was computed in accordance with ASC No. 260-10 by dividing the net profit (loss) allocated to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. For purposes of calculating diluted earnings per ordinary share, the denominator includes both the weighted-average number of ordinary shares outstanding during the period and the number of ordinary share equivalents if the inclusion of such ordinary share equivalents is dilutive. Dilutive ordinary share equivalents potentially include stock options using the treasury stock method. In 2020 and 2018, the Company incurred net losses which cannot be diluted; therefore, basic and diluted loss per ordinary share was the same. In 2019, the stock options were "out of the money" and therefore, basic and diluted loss per ordinary share was the same. E. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and bank deposits. As of December 31, 2020, the Company had cash and cash equivalents that totaled to $301 and short-term deposits totaling to $1,624 all of which are deposited in a major Israeli financial institution. As of December 31, 2019, the Company had cash and cash equivalents that totaled to $12 and short-term deposits totaling to $1,919 all of which were deposited in a major Israeli financial institution. The Company has not incurred any losses on these accounts. Management believes that the financial institutions holding the Company's cash and cash equivalents and its deposits is financially sound. F. Fair Value of Financial Instruments The carrying value of cash and cash equivalents, and other payables and accrued expenses approximated their fair values as of December 31, 2020 and 2019 due to their short-term nature. G. Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. Most of the newer standards issued represent technical corrections to the accounting literature or application to specific industries which have no effect on the Company’s financial statements. |
NOTE 3 - BANK DEPOSITS
NOTE 3 - BANK DEPOSITS | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
NOTE 3 - BANK DEPOSITS | NOTE 3 BANK DEPOSITS The Company’s bank deposits are denominated in U.S. dollars and bare different interest rates ranging from 0.37% to 0.53% depending on their maturity, which ranges from 6 to 12 months. |
NOTE 4 - CONTINGENT LIABILITIES
NOTE 4 - CONTINGENT LIABILITIES | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
NOTE 4 - CONTINGENT LIABILITIES | NOTE 4 CONTINGENT LIABILITIES In August 30, 2011, the Company received a letter from Tmura Fund, operating within the Israel Innovation Authority (formerly known as the Office of the Chief Scientist) of the Israeli Ministry of Economy) (the "IAA") according to which - the Company is required to pay the IAA a sum of NIS 943 thousand ($293 thousand) for royalties on the basis of income derived from the sale of the WLAN business to Lantiq. On September 15, 2011 the Company replied that it disagrees with the IAA position. As of the filing of this report, the disagreement has not been resolved. The Company is of the opinion that the demand has no merits and intends to vigorously defend its case. Despite this opinion, the Company recorded a provision in the amount of USD $128 thousand, included in other payables and accrued expenses, intended for potential legal claims against the Company for the above mentioned demand dated August 30, 2011. See Note 7. |
NOTE 5 - SHARE CAPITAL
NOTE 5 - SHARE CAPITAL | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
NOTE 5 - SHARE CAPITAL | NOTE 5 SHARE CAPITAL Stock Options (i) In January 2012, the Company granted its former CEO, Tzvika Shukhman, options to purchase up to 100,000 ordinary shares of Metalink, in accordance with the following terms: (i) exercise price equal to $1.50 per share; (ii) the options vested fully on December 31, 2013; (iii) the options expiration date is set 10 years from date of grant, i.e. December 31, 2021; Those options are treated as equity instruments issued to other than employees. (ii) During 2012, the Board of Directors decided to grant its former director, Hudi Zak, options to purchase up to 12,500 ordinary shares of Metalink, in accordance with the following terms: (i) exercise price equal to $1.50 per share; (ii) the options are all fully vested upon the grant; (iii) the options expiration date is set 10 years from date of grant. A summary of the status of the Company's stock option activities to employees and directors of the Company as of and the year ended December 31, 2020, 2019 and 2018 are as follows: December 31, 2020 December 31, 2019 December 31, 2018 Weighted Weighted Weighted average average average exercise exercise exercise Shares price Shares price Shares price Options outstanding at beginning of year 112,500 1.50 112,500 1.50 112,500 1.50 Outstanding and exercisable at end of year 112,500 1.50 112,500 1.50 112,500 1.50 The aggregate intrinsic value is $0 for all years presented in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.43 as of December 31, 2020, $0.40 as of December 31, 2019, and $0.39 as of December 31, 2018, which would have been received by the option holders had all option holders exercised their options as of that date. |
NOTE 6 - TAXES ON INCOME
NOTE 6 - TAXES ON INCOME | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
NOTE 6 - TAXES ON INCOME | NOTE 6 TAXES ON INCOME A. Taxation under Various Laws (i) The Company is assessed under the provisions of the Israeli Income Tax Ordinance. (ii) Income derived from sources other than the "Approved Enterprise" is taxable at the ordinary corporate tax rate of 23% (regular "Company Tax"). B. Reconciliation of Income Taxes The following is a reconciliation of the taxes on income assuming that all income is taxed at the ordinary statutory corporate tax rate in Israel and the effective income tax rate: Year ended December 31, 2 0 2 0 2 0 1 9 2 0 1 8 Net profit (loss) as reported in the statements of operations (23) 4 (35) Statutory tax rate 23.0% 23.0 % 23.0 % Income Tax under statutory tax rate (5.3) 1 (8) Less full valuation allowance 5.3 (1) 8 Provision for income tax - - - C. Deferred Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized. The effect of a change in tax rates or laws on deferred tax assets and liabilities is recognized in operations in the period that includes the enactment date of the rate change. A valuation allowance is established to reduce the deferred tax assets to the amounts that are more likely than not to be realized from operations. Tax benefits of uncertain tax positions are recognized only if it is more likely than not that the Company will be able to sustain a position taken on an income tax return. The Company has no liability for uncertain tax positions as of December 31, 2020, 2019 and 2018. Interest and penalties, if any, related to unrecognized tax benefits would be recognized as income tax expense. The Company does not have any accrued interest or penalties associated with unrecognized tax benefits, nor was any significant interest expense recognized during 2020, 2019 and 2018. Tax losses carried forward of the Company as of 31 December 2018 are $193 million (NIS 726 million), as of December 2019 $210 million (NIS 726 million) and expected to be $226 million (NIS 726 million) as of December 2020. This loss is unlimited in duration and denominated in nominal NIS (the dollar balance translated according to the exchange rate at year end, and therefore fluctuates significantly through the periods). D. Tax Assessments The Company has not received final tax assessments for income tax purposes since incorporation. However, according to Israeli tax laws assessments considered final until and including the year ended in 2015. |
NOTE 7 - SUPPLEMENTARY BALANCE
NOTE 7 - SUPPLEMENTARY BALANCE SHEET INFORMATION | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Text Block Supplement [Abstract] | |
NOTE 7 - SUPPLEMENTARY BALANCE SHEET INFORMATION | NOTE 7 SUPPLEMENTARY BALANCE SHEET INFORMATION Other Payables and Accrued Expenses December 31, 2 0 2 0 2 0 2 0 Provision for legal claims 128 128 Accrued expenses (in 2020 includes $8 to directors) 26 14 154 142 |
NOTE 8 - SUPPLEMENTARY STATEMEN
NOTE 8 - SUPPLEMENTARY STATEMENT OF OPERATIONS INFORMATION | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
NOTE 8 - SUPPLEMENTARY STATEMENT OF OPERATIONS INFORMATION | NOTE 8 SUPPLEMENTARY STATEMENT OF OPERATIONS INFORMATION Financial Income December 31, 2 0 2 0 2 0 1 9 Interest income 49 25 Income (expense) from revaluation of deposits (24) 24 25 49 |
NOTE 9 - SIGNIFICANT EVENTS DUR
NOTE 9 - SIGNIFICANT EVENTS DURING THE REPORTED PERIOD (COVID-19) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
NOTE 9 - SIGNIFICANT EVENTS DURING THE REPORTED PERIOD (COVID-19) | NOTE 9 SIGNIFICANT EVENTS DURING THE REPORTED PERIOD (COVID-19) Since January 2020 and until the filing of this report, the world is experiencing a pandemic that is having a macro-economic impact relating to the spread of the Covid-19 (Corona) virus (hereinafter “the Virus”). Corona has been declared a pandemic by the World Health Organization. Many countries, including Israel, have taken significant steps in an effort to minimize the spread of the Virus, such as restrictions on citizens, transportation of passengers and goods, reducing the number of employees who are allowed to get to work, etc. This event has significant effects on the economies and world markets, and many countries were economically harmed by the spread of the Virus. The Company's management is of the opinion that, as of the issuance of this report, there is no effect on the scope of the Company’s operations. In case the Company will have an investment and/or new activity in the near future, at this stage the Company does not know in which sector or industry it will be, hence it does not know how to assess the possible impact of the Virus on the investment/new activity. |
NOTE 2 - SIGNIFICANT ACCOUNTI_2
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates in Preparation of Financial Statements | A. Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. |
Financial Statements in U.S. Dollars | B. Financial Statements in U.S. Dollars The reporting currency of the Company is the U.S. dollar ("dollar" or "$"). The currency of the primary economic environment in which the operations of the Company are conducted is the dollar, and the dollar has been determined to be the Company's functional currency. Transactions and balances originally denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured into dollars in accordance with the principles set forth in Accounting Standards Codification ("ASC") No. 830 (“Foreign Currency Matters”). All exchange gains and losses from re-measurement of monetary balance sheet items resulting from transactions in non-dollar currencies are reflected in the statements of operations as they arise. |
Cash Equivalents | C. Cash Equivalents Cash equivalents consist of short-term, highly liquid investments like bank deposits, which are readily convertible into cash with original maturities when purchased of three months or less. |
Net Profit (Loss) Per Ordinary Share | D. Net Profit (Loss) Per Ordinary Share Basic net profit (loss) per ordinary share was computed in accordance with ASC No. 260-10 by dividing the net profit (loss) allocated to ordinary shareholders by the weighted-average number of ordinary shares outstanding during the period. For purposes of calculating diluted earnings per ordinary share, the denominator includes both the weighted-average number of ordinary shares outstanding during the period and the number of ordinary share equivalents if the inclusion of such ordinary share equivalents is dilutive. Dilutive ordinary share equivalents potentially include stock options using the treasury stock method. In 2020 and 2018, the Company incurred net losses which cannot be diluted; therefore, basic and diluted loss per ordinary share was the same. In 2019, the stock options were "out of the money" and therefore, basic and diluted loss per ordinary share was the same. |
Concentrations of Credit Risk | E. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and bank deposits. As of December 31, 2020, the Company had cash and cash equivalents that totaled to $301 and short-term deposits totaling to $1,624 all of which are deposited in a major Israeli financial institution. As of December 31, 2019, the Company had cash and cash equivalents that totaled to $12 and short-term deposits totaling to $1,919 all of which were deposited in a major Israeli financial institution. The Company has not incurred any losses on these accounts. Management believes that the financial institutions holding the Company's cash and cash equivalents and its deposits is financially sound. |
Fair Value of Financial Instruments | F. Fair Value of Financial Instruments The carrying value of cash and cash equivalents, and other payables and accrued expenses approximated their fair values as of December 31, 2020 and 2019 due to their short-term nature. |
Recently Issued Accounting Pronouncements | G. Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. Most of the newer standards issued represent technical corrections to the accounting literature or application to specific industries which have no effect on the Company’s financial statements. |
NOTE 5 - SHARE CAPITAL (Tables)
NOTE 5 - SHARE CAPITAL (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
Schedule of stock option activities | A summary of the status of the Company's stock option activities to employees and directors of the Company as of and the year ended December 31, 2020, 2019 and 2018 are as follows: December 31, 2020 December 31, 2019 December 31, 2018 Weighted Weighted Weighted average average average exercise exercise exercise Shares price Shares price Shares price Options outstanding at beginning of year 112,500 1.50 112,500 1.50 112,500 1.50 Outstanding and exercisable at end of year 112,500 1.50 112,500 1.50 112,500 1.50 |
NOTE 6 - TAXES ON INCOME (Table
NOTE 6 - TAXES ON INCOME (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | The following is a reconciliation of the taxes on income assuming that all income is taxed at the ordinary statutory corporate tax rate in Israel and the effective income tax rate: Year ended December 31, 2 0 2 0 2 0 1 9 2 0 1 8 Net profit (loss) as reported in the statements of operations (23) 4 (35) Statutory tax rate 23.0% 23.0 % 23.0 % Income Tax under statutory tax rate (5.3) 1 (8) Less full valuation allowance 5.3 (1) 8 Provision for income tax - - - |
NOTE 7 - SUPPLEMENTARY BALANCE
NOTE 7 - SUPPLEMENTARY BALANCE SHEET INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Other Payables and Accrued Expenses | Other Payables and Accrued Expenses December 31, 2 0 2 0 2 0 1 9 Provision for legal claims 128 128 Accrued expenses (in 2020 includes $8 to directors) 31 14 159 142 |
NOTE 8 - SUPPLEMENTARY STATEM_2
NOTE 8 - SUPPLEMENTARY STATEMENT OF OPERATIONS INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Schedule of Financial Income | Financial Income December 31, 2 0 2 0 2 0 1 9 Interest income 49 25 Income (expense) from revaluation of deposits (24) 24 25 49 |
NOTE 2 - SIGNIFICANT ACCOUNTI_3
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 301 | $ 12 | $ 24 | $ 1,966 |
Short-term deposits | $ 1,624 | $ 1,919 |
NOTE 3 - BANK DEPOSITS (Details
NOTE 3 - BANK DEPOSITS (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Minimum [Member] | |
Interest rate | 0.37% |
Maturity term | 6 months |
Maximum [Member] | |
Interest rate | 0.53% |
Maturity term | 12 months |
NOTE 4 - CONTINGENT LIABILITI_2
NOTE 4 - CONTINGENT LIABILITIES (Details) $ in Thousands | 1 Months Ended |
Aug. 30, 2011USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Payments for royalties | $ 293 |
Provision for contingent liabilities | $ 128 |
NOTE 5 - SHARE CAPITAL (Details
NOTE 5 - SHARE CAPITAL (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 12, 2012 | Dec. 31, 2012 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Share Capital (Details) [Line Items] | |||||
Stock price | $ 0.43 | $ 0.40 | $ 0.39 | ||
Intrinsic value of option | $ 0 | ||||
Tzvika Shukhman [Member] | |||||
Share Capital (Details) [Line Items] | |||||
Ordinary shares | 100,000 | ||||
Exercise price | $ 1.50 | ||||
Expiration period | 10 years | ||||
Hudi Zak [Member] | |||||
Share Capital (Details) [Line Items] | |||||
Ordinary shares | 12,500 | ||||
Exercise price | $ 1.50 | ||||
Expiration period | 10 years |
NOTE 5 - SHARE CAPITAL _ Schedu
NOTE 5 - SHARE CAPITAL : Schedule of stock option plans to employees and directors (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of stock option plans to employees and directors [Abstract] | |||
Shares,Options outstanding at beginning of year | 112,500 | 112,500 | 112,500 |
Weighted average exercise Price, Options outstanding at beginning of year (in Dollars per share) | $ 1.5 | $ 1.5 | $ 1.5 |
Shares, Granted during year | |||
Weighted average exercise Price, Granted during year (in Dollars per share) | |||
Shares,Outstanding at end of year | 112,500 | 112,500 | 112,500 |
Weighted average exercise Price, Outstanding at end of year (in Dollars per share) | $ 1.5 | $ 1.5 | $ 1.5 |
Shares, Options exercisable at end of year | 112,500 | 112,500 | 112,500 |
Weighted average exercise Price, Options exercisable at end of year (in Dollars per share) | $ 1.5 | $ 1.5 | $ 1.5 |
NOTE 6 - TAXES ON INCOME (Detai
NOTE 6 - TAXES ON INCOME (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Ordinary corporate tax rate | 23.00% | 23.00% | |
Deferred tax loss carry forwards | $ 226 | $ 210 | $ 193 |
Uncertain tax positions | $ 0 | $ 0 | $ 0 |
NOTE 6 - TAXES ON INCOME _ Sche
NOTE 6 - TAXES ON INCOME : Schedule of reconciliation of income taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of reconciliation of income taxes [Abstract] | |||
Net profit (loss) as reported in the statements of operations | $ (23,000) | $ 4,000 | $ (35,000) |
Statutory tax rate | 23.00% | 23.00% | 24.00% |
Income Tax under statutory tax rate | $ (5,300) | $ 1,000 | $ (8,000) |
Less full valuation allowance | 5,300 | (1,000) | 8,000 |
Actual income tax | $ 0 | $ 0 | $ 0 |
NOTE 7 - SUPPLEMENTARY BALANC_2
NOTE 7 - SUPPLEMENTARY BALANCE SHEET INFORMATION : Schedule of other payables and accrued expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of other payables and accrued expenses [Abstract] | ||
Provision for legal claims | $ 128 | $ 128 |
Accrued expenses (in 2020 includes $8 to directors) | 31 | 14 |
Other payables and accrued expenses | $ 159 | $ 142 |
NOTE 8 - SUPPLEMENTARY STATEM_3
NOTE 8 - SUPPLEMENTARY STATEMENT OF OPERATIONS INFORMATION : Schedule of financial income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of other payables and accrued expenses [Abstract] | ||
Interest income | $ 49 | $ 25 |
Income (expense) from revaluation of deposits | (24) | 24 |
Financial Income | $ 25 | $ 49 |