Tingo (TIOG) 10-Q 11 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 11, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	MICRONET ENERTEC TECHNOLOGIES, INC.
Entity Central Index Key	854,800
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,878,721

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,873	$ 2,361
Restricted cash	4,616	4,135
Marketable securities	4,974	5,643
Trade account receivables, net	13,669	12,353
Inventories	6,007	7,457
Other accounts receivable	1,536	1,585
Total current assets	32,675	33,534
Property and equipment, net	1,710	1,816
Intangible assets and others, net	2,826	3,297
Long term deposit	32	30
Goodwill	1,466	1,466
Total long term assets	6,034	6,609
Total assets	38,709	40,143
LIABILITIES AND EQUITY
Short term bank credit and current portion of long term bank loans	13,692	11,012
Short term credit from others and current portion of long term loans from others	1,228	1,037
Trade accounts payable	3,610	5,710
Other accounts payable	2,471	2,484
Total current liabilities	21,001	20,243
Long term loans from banks	1,638	1,978
Long term notes	188	375
Finance lease	8	22
Accrued severance pay, net	83	52
Deferred tax liabilities, net	12	17
Total long term liabilities	1,929	2,444
Stockholders' Equity:
Preferred stock; $.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock; $.001 par value, 25,000,000 shares authorized, 5,878,721 and 5,865,221 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively.	6	6
Additional paid in capital	8,002	7,812
Accumulated other comprehensive income (loss)	8	(196)
Retained earnings	2,260	3,817
Micronet Enertec stockholders' equity	10,276	11,439
Non-controlling interests	5,503	6,017
Total equity	15,779	17,456
Total liabilities and equity	$ 38,709	$ 40,143

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	5,878,721	5,865,221
Common stock, shares outstanding	5,878,721	5,865,221

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenues	$ 6,721	$ 5,747	$ 13,203	$ 11,426
Cost of revenues	5,163	3,913	9,566	7,841
Gross profit	1,558	1,834	3,637	3,585
Operating expenses:
Research and development	683	723	1,383	1,466
Selling and marketing	478	350	836	819
General and administrative	1,518	1,127	2,654	2,238
Amortization of intangible assets	232	305	460	607
Total operating expenses	2,911	2,505	5,333	5,130
Loss from operations	(1,353)	(671)	(1,696)	(1,545)
Financial expenses, net	131	169	261	261
In Loss before provision for income taxes	(1,484)	(840)	(1,957)	(1,806)
Benefit for income taxes	(51)	(37)	(20)	(167)
Net loss	(1,433)	(803)	(1,937)	(1,639)
Net loss attributable to non-controlling interests	(214)	(215)	(379)	(345)
Net loss attributable to Micronet Enertec Technologies, Inc.	$ (1,219)	$ (588)	$ (1,558)	$ (1,294)
Loss per share attributable to Micronet Enertec Technologies, Inc.
Basic	$ (0.21)	$ (0.10)	$ (0.27)	$ (0.22)
Weighted average common shares outstanding:
Basic	5,876,921	5,859,675	5,871,039	5,857,951

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,433)	$ (803)	$ (1,937)	$ (1,639)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	(159)	383	69	182
Total comprehensive loss	(1,592)	(420)	(1,868)	(1,457)
Comprehensive income (loss) attributable to the non-controlling interests	(295)	(3)	(514)	282
Comprehensive loss attributable to Micronet Enertec Technologies, Inc.	$ (1,297)	$ (417)	$ (1,354)	$ (1,739)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,937)	$ (1,639)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	687	847
Marketable securities	3	(88)
Change in fair value of derivatives, net	(30)	(6)
Change in deferred taxes, net	(127)	(389)
Accrued interest and exchange rate differences on loans	207	449
Stock-based compensation	190	172
Decrease (increase) in trade account receivables	(1,315)	1,101
Decrease in inventories	1,450	155
Increase (decrease) in accrued severance pay, net	31	(3)
Decrease (increase) in other accounts receivables	185	(9)
Decrease in trade accounts payables	(2,101)	(2,122)
Increase (decrease) in other accounts payables	5	(294)
Net cash used in operating activities	(2,752)	(1,826)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(100)	(184)
Restricted cash	(482)	(52)
Marketable securities	666	(39)
Net cash provided by (used in) investing activities	84	(275)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short term bank credit	4,731	2,823
Long term bank loan		59
Repayment of short term loans	(2,228)	(2,175)
Repayment of long term bank loans	(367)	(473)
Repayment of notes		(1,000)
Net cash provided by (used in) financing activities	2,136	(766)
NET CASH DECREASE IN CASH AND CASH EQUIVALENTS	(532)	(2,867)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	2,361	4,179
TRANSLATION ADJUSTMENT ON CASH AND CASH EQUIVALENTS	44	301
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 1,873	$ 1,613

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2016
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Overview A. Micronet Enertec Technologies, Inc., a U.S.-based Delaware corporation, was formed on January 31, 2002. On March 14, 2013, we changed our corporate name from Lapis Technologies, Inc. to Micronet Enertec Technologies, Inc. (“we,” “Micronet Enertec” or “the Company”). We operate through two Israel-based companies, Enertec Systems 2001 Ltd (“Enertec”), our wholly-owned subsidiary, and Micronet Ltd (“Micronet”), in which we held 62.9% as of June 30, 2016 and is controlled by us. Micronet is a publicly traded company on the Tel Aviv Stock Exchange and operates in the growing commercial Mobile Resource Management (“MRM”) market. Micronet through both its Israeli and U.S. operational offices designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Micronet’s vehicle cabin installed and portable tablets increase workforce productivity and enhance corporate efficiency by offering computing power and communication capabilities that provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage. Micronet’s customers consist primarily of application service providers and solution providers specializing in the MRM market. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems, simulators, automatic test equipment and electronic instruments. Enertec’s solutions and systems are designed according to major aerospace integrators’ requirements and are integrated by them into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for use by the Israeli Air Force and Navy and by foreign defense entities. B. Standby Equity Distribution Agreement On June 30, 2016, we entered into a Standby Equity Distribution Agreement (the “SEDA”) with YA II PV Ltd. (“YA II”), a Cayman Island exempt limited partnership and an affiliate of Yorkville Advisors Global, LLC, for the sale of up to $2.39 million of shares of the Company’s common stock, par value $0.001 per share, over a three-year commitment period. Under the terms of the SEDA, the Company may from time to time, in its discretion, sell newly-issued shares of its common stock to YA II at a discount to market of 1.5%. The Company expects to issue shares of common stock under the SEDA pursuant to its effective Registration Statement on Form S-3 (Registration No. 196760). The Company is not obligated to utilize any of the funds available under the SEDA and there are no minimum commitments or minimum use penalties. The total amount of funds that ultimately can be raised under the SEDA over the three-year term will depend on the market price for the Company’s common stock and the number of shares actually sold. The SEDA does not impose any restrictions on the Company’s operating activities. During the term of the SEDA, YA II is prohibited from engaging in any short selling or hedging transactions related to the Company’s common stock. C. Note Purchase Agreement On June 30, 2016, the Company and our wholly-owned subsidiary Enertec Electronics Ltd (collectively, the “Borrowers”) entered into a Note Purchase Agreement with YA II (the “Note Purchase Agreement”), whereby YA II will purchase $600 of notes from the Borrowers (the “Notes”). The Company received a total of $600 on July 1st, 2016. The outstanding principal balance of the Notes shall bear interest at 7% per annum. On a quarterly basis commencing on October 10, 2016, the Borrowers shall make payments of $150 of principal plus accrued interest. All amounts payable are due on July 10, 2017. Upon the occurrence of an Event of Default under the Notes, all amounts payable may be due immediately. In connection with the Note Purchase Agreement, the Company agreed to grant to YA II a five-year warrant (the “Warrant”) to purchase 66,000 shares of the Company’s common stock at an exercise price of $4.30 per share. The Warrant is exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof.

Basis of Presentation and Conso

Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation and Consolidation [Abstract]
BASIS OF PRESENTATION AND CONSOLIDATION	NOTE 2 - BASIS OF PRESENTATION AND CONSOLIDATION Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2016 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended June 30, 2016 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company’s accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2015, and updated, as necessary, in this Quarterly Report on Form 10-Q. All the amounts included in the notes are denominated in thousand US Dollars. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Principles of consolidation The consolidated financial statements comprise the results and position of the Company and its subsidiaries. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its operating activities. In assessing control, legal and contractual rights are taken into account. The consolidated financial statements of subsidiaries are included in the consolidated financial statements from the date that control is achieved until the date that control is ceased. Intercompany transactions and balances are eliminated upon consolidation. Recent Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (the “FASB”) “FASB” issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) (“Accounting Standards Update (“ASU”) ASU 2016-01”), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter of 2019. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, which supersedes the lease accounting guidance in ASC 840, Leases. The new guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. For lessees, leases will continue to be classified as either operating or finance leases in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2018, for public companies, with early adoption permitted. The new guidance must be adopted using a modified retrospective approach. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, which revises the guidance in ASC 718, Compensation - Stock Compensation, and will change how companies account for certain aspects of share-based payments to employees, including the income tax impact, classification on the statement of cash flows and forfeitures. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017, for public companies. Early adoption is permitted. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 – FAIR VALUE MEASUREMENTS The accounting guidance establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 – Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 2 – Observable inputs such as quoted prices for similar instruments and quoted prices in markets that are not active, and inputs that are directly observable or can be corroborated by observable market data. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts, such as treasury securities with pricing interpolated from recent trades of similar securities, or priced with models using highly observable inputs, such as commodity options priced using observable forward prices and volatilities. Level 3 – Significant inputs to pricing that have little or no observability as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as the complex and subjective models and forecasts used to determine the fair value of financial instruments. Items carried at fair value as of June 30, 2016 and December 31, 2015, are summarized below: Fair value measurements using input type June 30, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 1,873 $ - $ - $ 1,873 Restricted cash 4,616 - - 4,616 Marketable securities 4,974 - - 4,974 Derivative assets - 6 - 6 Derivative liabilities - Phantom option - (11 ) - (11 ) $ 11,463 $ (5 ) $ - $ 11,458 Fair value measurements using input type December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2,361 $ - $ - $ 2,361 Restricted cash 4,135 - - 4,135 Marketable securities 5,643 - - 5,643 Derivative liabilities - Phantom option - (41 ) - (41 ) $ 12,139 $ (41 ) $ - $ 12,098

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
INVENTORIES [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES Inventories are stated at the lower of cost or market, computed using the first-in, first-out method. Inventories consist of the following: June 30, 2016 December 31, 2015 Raw materials $ 5,093 $ 6,303 Work in process 914 1,154 $ 6,007 $ 7,457

Segments

Segments	6 Months Ended
	Jun. 30, 2016
Segments [Abstract]
SEGMENTS	NOTE 5 – SE GMENTS Operating segments are based upon our internal organization structure, the manner in which our operations are managed and the availability of separate financial information. We have two operating segments: a defense and aerospace segment operated by Enertec and a mobile resource management segment operated by Micronet. The following table summarizes the financial performance of our operating segments: Six months ended June 30, 2016 Defense Mobile resource management Consolidated Revenues from external customers $ 4,853 $ 8,350 $ 13,203 Segment operating income (loss) 24 (1)(979 ) (955 ) Non allocated expenses (741 ) Finance expenses and other (261 ) Consolidated loss before provision for income taxes $ (1,957 ) Six months ended June 30, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 3,917 $ 7,509 $ 11,426 Segment operating loss (50 ) (2)(947 ) (997 ) Non allocated expenses (548 ) Finance expenses (261 ) Consolidated loss before provision for income taxes $ (1,806 ) (1) Includes $460 of intangible assets amortization, derived from acquisitions. (2) Includes $607 of intangible assets amortization, derived from acquisitions.

Basis of Presentation and Con12

Basis of Presentation and Consolidation (Policies)	6 Months Ended
	Jun. 30, 2016
Basis of Presentation and Consolidation [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2016 and the results of operations and cash flows for the periods presented. The results of operations for the periods ended June 30, 2016 are not necessarily indicative of the operating results for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company’s accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2015, and updated, as necessary, in this Quarterly Report on Form 10-Q. All the amounts included in the notes are denominated in thousand US Dollars.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
Principles of consolidation	Principles of consolidation The consolidated financial statements comprise the results and position of the Company and its subsidiaries. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its operating activities. In assessing control, legal and contractual rights are taken into account. The consolidated financial statements of subsidiaries are included in the consolidated financial statements from the date that control is achieved until the date that control is ceased. Intercompany transactions and balances are eliminated upon consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (the “FASB”) “FASB” issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) (“Accounting Standards Update (“ASU”) ASU 2016-01”), which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter of 2019. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU No. 2016-02, which supersedes the lease accounting guidance in ASC 840, Leases. The new guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. For lessees, leases will continue to be classified as either operating or finance leases in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2018, for public companies, with early adoption permitted. The new guidance must be adopted using a modified retrospective approach. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations. In March 2016, the FASB issued ASU No. 2016-09, which revises the guidance in ASC 718, Compensation - Stock Compensation, and will change how companies account for certain aspects of share-based payments to employees, including the income tax impact, classification on the statement of cash flows and forfeitures. The guidance is effective for reporting periods (interim and annual) beginning after December 15, 2017, for public companies. Early adoption is permitted. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Schedule of fair value measurements	Fair value measurements using input type June 30, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 1,873 $ - $ - $ 1,873 Restricted cash 4,616 - - 4,616 Marketable securities 4,974 - - 4,974 Derivative assets - 6 - 6 Derivative liabilities - Phantom option - (11 ) - (11 ) $ 11,463 $ (5 ) $ - $ 11,458 Fair value measurements using input type December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2,361 $ - $ - $ 2,361 Restricted cash 4,135 - - 4,135 Marketable securities 5,643 - - 5,643 Derivative liabilities - Phantom option - (41 ) - (41 ) $ 12,139 $ (41 ) $ - $ 12,098

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
INVENTORIES [Abstract]
Schedule of Inventories	June 30, 2016 December 31, 2015 Raw materials $ 5,093 $ 6,303 Work in process 914 1,154 $ 6,007 $ 7,457

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segments [Abstract]
Schedule of Operating Segments	Six months ended June 30, 2016 Defense Mobile resource management Consolidated Revenues from external customers $ 4,853 $ 8,350 $ 13,203 Segment operating income (loss) 24 (1)(979 ) (955 ) Non allocated expenses (741 ) Finance expenses and other (261 ) Consolidated loss before provision for income taxes $ (1,957 ) Six months ended June 30, 2015 Defense and aerospace Mobile resource management Consolidated Revenues from external customers $ 3,917 $ 7,509 $ 11,426 Segment operating loss (50 ) (2)(947 ) (997 ) Non allocated expenses (548 ) Finance expenses (261 ) Consolidated loss before provision for income taxes $ (1,806 ) (1) Includes $460 of intangible assets amortization, derived from acquisitions. (2) Includes $607 of intangible assets amortization, derived from acquisitions.

Description of Business (Detail

Description of Business (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Description of Business (Textual)
Common stock, par value	$ 0.001	$ 0.001
Standby Equity Distribution Agreement [Member]
Description of Business (Textual)
Common stock, par value	$ 0.001
Commitment period	3 years
Discount rate	1.50%
Note Purchase Agreement [Member]
Description of Business (Textual)
YA II purchases of notes from the Borrowers	$ 600
Received amount from YA II	$ 600
Interest rate of outstanding principal balance	700.00%
Deposit liabilities, Description	On a quarterly basis commencing on October 10, 2016, the Borrowers shall make payments of $150 of principal plus accrued interest.
Grant to YA II warrant to purchase shares of the common stock	66,000
Warrants exercise price	$ 4.30
Micronet Limited [Member]
Description of Business (Textual)
Ownership percentage	62.90%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,873	$ 2,361
Restricted cash	4,616	4,135
Marketable securities	4,974	5,643
Derivative assets	6
Derivative liabilities - Phantom option	(11)	(41)
Financial assets and liabilities measured at fair value	11,458	12,098
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,873	2,361
Restricted cash	4,616	4,135
Marketable securities	4,974	5,643
Derivative assets
Derivative liabilities - Phantom option
Financial assets and liabilities measured at fair value	11,463	12,139
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Restricted cash
Marketable securities
Derivative assets	6
Derivative liabilities - Phantom option	(11)	(41)
Financial assets and liabilities measured at fair value	(5)	(41)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Restricted cash
Marketable securities
Derivative assets
Derivative liabilities - Phantom option
Financial assets and liabilities measured at fair value

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
INVENTORIES [Abstract]
Raw materials	$ 5,093	$ 6,303
Work in process	914	1,154
Inventories	$ 6,007	$ 7,457

Segments (Details)

Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues from external customers	$ 6,721	$ 5,747	$ 13,203		$ 11,426
Segment operating income (loss)			(955)		(997)
Non allocated expenses			(741)		(548)
Finance expenses	(131)	(169)	(261)		(261)
Consolidated loss before provision for income taxes	$ (1,484)	$ (840)	(1,957)		(1,806)
Defense and aerospace [Member]
Segment Reporting Information [Line Items]
Revenues from external customers			4,853		3,917
Segment operating income (loss)			24		(50)
Mobile resource management [Member]
Segment Reporting Information [Line Items]
Revenues from external customers			8,350		7,509
Segment operating income (loss)			$ (979)	[1]	$ (947)	[2]
[1]	Includes $460 of intangible assets amortization, derived from acquisitions.
[2]	Includes $607 of intangible assets amortization, derived from acquisitions.

Segments (Details Textual)

Segments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment (Textual)
Amortization of intangible assets	$ 232	$ 305	$ 460	$ 607