Tingo (TIOG) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 13, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	MICT, Inc.
Entity Central Index Key	0000854800
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-35850
Entity Incorporation State Country Code	DE
Entity Common Stock, Shares Outstanding		11,930,880

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 9,707	$ 3,154
Restricted cash		45
Trade accounts receivable, net	305
Short-term loan to related party Micronet Ltd., net		281
Inventories, net	1,852
Other current assets	1,541	937
Total current assets	13,405	4,417
Property and equipment, net	689	29
Long term deposit	26
Right of use assets	310
Goodwill	2,618
Intangible assets and others, net	2,475
Restricted cash escrow	477	477
Micronet Ltd. equity method investment		994
Total long-term assets	6,595	1,500
Total assets	20,000	5,917
LIABILITIES AND EQUITY
Short term bank credit and current portion of long term bank loans	1,186
Short term credit from others	8,151
Trade accounts payable	1,193
Other current liabilities	1,865	290
Total current liabilities	12,395	290
Long term loans from others		1,856
Lease liability	102
Deferred tax liabilities	362
Long term escrow	477	477
Accrued severance pay	145	50
Total long term liabilities	1,086	2,383
Stockholders’ Equity:
Common stock; $0.001 par value, 25,000,000 shares authorized, 11,107,714 shares issued and outstanding as of June 30, 2020 and 11,089,532 shares issued and outstanding as of December 31, 2019, respectively	11	11
Additional paid in capital	14,198	14,107
Accumulated other comprehensive (loss)	164	70
Accumulated loss	(18,382)	(16,974)
MICT, Inc. stockholders’ equity	4,347	3,244
Non-controlling interests	2,172
Total equity	6,519	3,244
Total liabilities and equity	20,000	5,917
Series A Convertible Preferred Stock
Stockholders’ Equity:
Preferred stock value	3	2
Additional paid in capital - preferred stock	6,437	6,028
Total equity	3	2
Series B Convertible Preferred Stock
Stockholders’ Equity:
Preferred stock value	2	$ 0
Additional paid in capital - preferred stock	1,914
Total equity	$ 2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	11,107,714	11,089,532
Common stock, shares outstanding	11,107,714	11,089,532
Series A Convertible Preferred Stock
Convertible Preferred stock, par value	$ 0.001	$ 0.001
Convertible Preferred stock, shares authorized	3,181,818	3,181,818
Convertible Preferred stock, shares issued	2,386,363	2,386,363
Convertible Preferred stock, shares outstanding	2,386,363	2,386,363
Series B Convertible Preferred Stock
Convertible Preferred stock, par value	$ 0.001	$ 0.001
Convertible Preferred stock, shares authorized	1,818,182	0
Convertible Preferred stock, shares issued	1,818,182	0
Convertible Preferred stock, shares outstanding	1,818,182	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020USD ($)shares	Jun. 30, 2020₪ / shares	Jun. 30, 2019USD ($)shares	Jun. 30, 2019₪ / shares	Jun. 30, 2020USD ($)shares	Jun. 30, 2020₪ / shares	Jun. 30, 2019USD ($)shares	Jun. 30, 2019₪ / shares
Income Statement [Abstract]
Revenues							$ 477
Cost of revenues							846
Gross profit (loss)							(369)
Operating expenses:
Research and development							261
Selling and marketing							198
General and administrative	668		670		1,438		1,660
Amortization of intangible assets							20
Total operating expenses	668		670		1,438		2,139
Loss from operations	(668)		(670)		(1,438)		(2,508)
Share in investee losses	(146)		(405)		(786)		(405)
Net profit from loss of control							299
Gain on previously held equity in Micronet	665				665
Financial (income) expenses, net	381		22		157		(54)
Income (loss) before provision for income taxes	232		(1,097)		(1,402)		(2,560)
Provision for income taxes	5		5		6		8
Total net profit (loss)	227		(1,102)		(1,408)		(2,568)
Net loss attributable to non-controlling interests							(556)
Net profit (loss) attributable to MICT, Inc.	$ 227		$ (1,102)		$ (1,408)		$ (2,012)
Earnings (loss) per share attributable to MICT, Inc.
Basic | ₪ / shares		₪ 0.02		₪ (0.10)		₪ (0.12)		₪ (0.19)
Diluted | ₪ / shares		₪ 0
Weighted average common shares outstanding:
Basic | shares	11,094,784		11,009,199		11,092,144		10,365,744
Diluted | shares	19,901,263		11,009,199		11,092,144		10,365,744

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Parenthetical) $ in Thousands	Jun. 30, 2020USD ($)
Income Statement [Abstract]
Capital gain from disposal	$ 6,844

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 227	$ (1,102)	$ (1,408)	$ (2,568)
Other comprehensive income (loss), net of tax:
Currency translation adjustment	164		94	(143)
Total comprehensive income (loss)	391	(1,102)	(1,314)	(2,711)
Comprehensive (loss) attributable to non-controlling interests				(463)
Comprehensive (loss) income attributable to MICT, Inc.	$ 391	$ (1,102)	$ (1,314)	$ (2,248)

Statements of Changes in Equity

Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Series B Convertible Preferred Stock	Series A Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Non-controlling Interest	Total
Balance at Dec. 31, 2018			$ 9	$ 11,905			$ (12,757)	$ (117)	$ 1,964	$ 1,004
Balance, Shares at Dec. 31, 2018			9,342,115
Shares issued to service providers and employees				$ 533						$ 533
Shares issued to service providers and employees, shares			420,600	39						39
Stock based compensation				$ 70					(70)	$ 0
Comprehensive loss							(2,012)	(306)	(393)	(2,711)
Loss of control of subsidiary								423	(1,501)	(1,078)
Issuance of shares, net			$ 2	1,346						1,348
Issuance of shares, net, shares			1,246,817
Balance at Jun. 30, 2019			$ 11	13,893			(14,769)	0	0	(865)
Balance, Shares at Jun. 30, 2019			11,009,532
Balance at Mar. 31, 2019			$ 11	13,518			(13,667)			(138)
Balance, Shares at Mar. 31, 2019			10,734,232
Shares issued to service providers and employees				358						358
Shares issued to service providers and employees, shares			275,300
Stock based compensation				17						17
Comprehensive loss							(1,102)			(1,102)
Balance at Jun. 30, 2019			$ 11	13,893			(14,769)	0	0	(865)
Balance, Shares at Jun. 30, 2019			11,009,532
Balance at Dec. 31, 2019		$ 2	$ 11		6,028	14,107	(16,974)	70	0	3,244
Balance, Shares at Dec. 31, 2019		2,386,363	11,089,532
Shares issued to service providers and employees						22				22
Shares issued to service providers and employees, shares			18,182
Stock based compensation						69				69
Comprehensive loss							(1,408)	94		(1,314)
Entering the control of a subsidiary									2,172	2,172
Issuance of shares, net- Series A Convertible Preferred Stock		$ 1			409					410
Issuance of shares, net- Series A Convertible Preferred Stock, shares		795,455
Issuance of shares, net- Series B Convertible Preferred Stock	$ 2			1,914						1,916
Issuance of shares, net- Series B Convertible Preferred Stock, shares	1,818,182
Balance at Jun. 30, 2020	$ 2	$ 3	$ 11	1,914	6,437	14,198	(18,382)	164	2,172	6,519
Balance, Shares at Jun. 30, 2020	1,818,182	3,181,818	11,107,714
Balance at Mar. 31, 2020	$ 2	$ 3	$ 11	1,914	6,437	14,169	(18,609)	0	0	3,927
Balance, Shares at Mar. 31, 2020	1,818,182	3,181,818	11,089,532
Shares issued to service providers and employees						22				22
Shares issued to service providers and employees, shares			18,182
Issuance of warrants						7				7
Comprehensive loss							227	164		391
Entering the control of a subsidiary									2,172	2,172
Balance at Jun. 30, 2020	$ 2	$ 3	$ 11	$ 1,914	$ 6,437	$ 14,198	$ (18,382)	$ 164	$ 2,172	$ 6,519
Balance, Shares at Jun. 30, 2020	1,818,182	3,181,818	11,107,714

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net profit (loss) from continued operations	$ (1,408)	$ (2,565)
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on previously held equity interest in Micronet	(665)
Profit from loss of control		(299)
Share in investee losses	786	405
Impairment of equity method investment in Micronet Ltd.	(187)
Impairment of loan to Micronet Ltd.	(84)
Depreciation and amortization	3	86
Restricted cash	45
Accrued interest and exchange rate differences on loans	19	109
Extinguishment of loan costs and commissions
Accrued interest and exchange rate differences on loans from others	66	85
Stock-based compensation for employees and consultants	69	502
Decrease in trade accounts receivable, net		672
Decrease in inventories		348
Decrease in accrued severance pay, net		(7)
Decrease (increase) in other accounts receivable	(410)	(312)
Increase in trade accounts payable		(394)
Increase in other accounts payable	121	15
Net cash (used in) operating activities	(1,645)	(1,355)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan to related party (Micronet Ltd.)	(125)
Purchase of property and equipment	(2)	(57)
Additional investment of Micronet Ltd.	(515)
consolidation of Micronet Ltd. (Appendix B)	268
Deconsolidation of Micronet Ltd. (Appendix A)		(608)
Net cash (used by) provided investing activities	(374)	(665)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short term bank credit		(101)
Receipt of loans from others, net	8,141
Repayment on account of redemption	(15,900)
Payments on account of shares	15,900
Extinguishment of loan costs
Repayment of short term loans
Issuance of shares, net	22
Issuance of convertible preferred shares net	409
Net cash (used by) provided financing activities	8,572	(101)
NET CASH (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	6,553	(2,121)
Cash, Cash Equivalents and restricted cash at the beginning of the period	3,154	2,174
TRANSLATION ADJUSTMENT ON CASH AND CASH EQUIVALENTS		3
Cash, Cash Equivalents and restricted cash at end of the period	9,707	56
Amount paid during the period for:
Interest	19	135
Taxes	$ 6	$ 3

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 13, 2019	Jan. 21, 2020	Feb. 21, 2019	Feb. 24, 2019
Working capital other than cash				$ (2,301)
Finance lease				359
Accrued severance pay, net				56
Translation reserve				(417)
Micronet Ltd. investment in fair value				1,711
Non controlling interests				1,499
Net profit from loss of control				(299)
Cash				608
Shares of its common stock	996,817	1,818,181	250,000
Conversion value	$ 1,000,000	$ 2,000	$ 250,000
Conversion price	$ 1.10		$ 1
Convertible Preferred stock, par value		$ 0.001
Net working capital (borrowing excluded)				(351)
Property and equipment				661
Intangible assets				2,475
Goodwill				2,618
Right of use assets				310
Other assets				26
Borrowings				(1,676)
Micronet Ltd. investment in fair value				(1,573)
Non-current liabilities				(558)
Accumulated other comprehensive income				(28)
Minority interest				(2,172)
Net cash provided by acquisition				$ 268
Series B Convertible Preferred Stock
Convertible Preferred stock, par value		$ 1.10

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2020
Description of Business [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 — DESCRIPTION OF BUSINESS Overview MICT Inc., (" we Company The Company's business relates to its ownership interest in its Israel-based subsidiary, Micronet Ltd., or Micronet. Micronet operates in the growing commercial Mobile Resource Management, or 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. As of December 31, 2018, the Company held 49.89% of Micronet's issued and outstanding shares, and together with an irrevocable proxy in our benefit from Mr. David Lucatz, the Company's President and Chief Executive Officer, we held 50.07% of the voting interest in Micronet as of such date. On February 24, 2019, Micronet closed a public equity offering on the Tel Aviv Stock Exchange (the " TASE On June 10, 2020, the Company announced that MICT Telematics Ltd. will own, assuming that all of the ordinary shares offered in the tender offer were purchased, 45.53% of Micronet's issued and outstanding ordinary shares. Also on June 10, 2020, the Company further informed Micronet that, assuming that the full subscription of such tender offer is accepted, the Company intends to, but shall not be required to, participate in a public offering of Micronet's ordinary shares, pursuant to which the Company may purchase up to $900,000 of such shares. Subsequently, on June 23, 2020, the Company announced that, as a result of (i) the completion of the tender offer, in which 5,999,996 of Micronet's ordinary shares were purchased for aggregate proceeds of NIS 1,800,000 (or $515,000), and (ii) the closing of the public offering, in which the Company purchased 10,334,000 of Micronet's ordinary shares for total consideration of NIS 3,100,200 (or $887,000), the Company currently owns 53.39% of Micronet's outstanding ordinary shares. the company expects to continue to maintiena controlling interest in Micronet in the future. On July 1, 2020, the transactions contemplated by the Merger Agreement were consummated, and the Consideration Note was issued to GFH. On November 7, 2019, the Company, GFH Intermediate Holdings Ltd., a British Virgin Islands company, or Intermediate, and MICT Merger Subsidiary Inc., a British Virgin Islands company and a wholly owned subsidiary of the Company, or Merger Sub, entered into an Agreement and Plan of Merger (the " Original Agreement In June 2019, the Company entered into a Securities Purchase Agreement with BNN, pursuant to which BNN agreed to purchase from the Company $2,000,000 of convertible notes (the " BNN Notes Series B Preferred Stock On June 4, 2019, the Company commenced an offering of its Series A Preferred Stock (the " Series A Preferred Stock Preferred Offering Series A Preferred Warrants On July 29, 2019, the Company completed the first closing in the Preferred Offering, pursuant to which it sold 2,386,363 shares of Series A Preferred Stock and 3,579,544 accompanying Series A Preferred Warrants for aggregate gross proceeds of $5,250,000. The Company paid an aggregate of $420,000 in fees with respect to this closing of the Preferred Offering. Additionally, in January 2020, the Company completed a second closing of the sale of Series A Convertible Preferred Stock, pursuant to which it sold 795,455 additional shares of Series A Preferred Stock and 1,193,183 accompanying Preferred Warrants to purchase up to 1,084,712 shares of the Company's common stock, for aggregate gross proceeds of $1,750,000. The Company paid an aggregate of $140,000 in fees with respect to this closing of the Preferred Offering. On November 7, 2019, the Company entered into a Securities Purchase Agreement (the " Primary Purchase Agreement Primary Purchasers Primary Convertible Debentures Non-Primary Purchase Agreement Non-Primary Purchasers Purchasers Non-Primary Convertible Debentures Convertible Debentures Convertible Debenture Offering Optional Redemption On April 15, 2020, the Company, Intermediate, GFH and MICT Merger Subsidiary Inc., a British Virgin Islands company and a wholly owned subsidiary of MICT (" Merger Sub Consideration Note On April 21, 2020, the Company entered into a series of Note Purchase Agreements (the " April Purchase Agreements PIPE Purchasers April Convertible Notes April Conversion Shares

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed, unaudited, consolidated financial statements and condensed footnotes have been prepared in accordance with the applicable rules and regulations of the SEC, regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by the accounting principles generally accepted in the United States of America, or U.S. GAAP, for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for fair statement of results for the interim periods presented have been included. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The consolidated balance sheet as of June 30, 2020 is derived from unaudited financial statements as of that date; and it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Furthermore, from February 24, 2019 until June 23, 2020, the Company accounted for its ownership in Micronet in accordance with the equity method; and therefore, the results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The Company's operations and business have experienced disruptions due to, among other things, the unprecedented conditions surrounding the spread of the COVID-19 virus throughout North America, Israel and the world. While the Company expects the COVID-19 pandemic to have an impact on its business operations and financial results, the extent of the impact on the Company's business, its corporate development objectives, its financial position and the value of and market for its common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, Israel, or elsewhere, as well as the effectiveness of actions taken globally to contain and treat the disease. Notably, COVID-19 and measures implemented to reduce the spread of the virus have limited access to the Company's offices and have disrupted its normal interactions with certain of its accounting personnel, legal advisors, auditors and others. Additionally, the COVID-19 outbreak has adversely affected the global economy and financial markets, which may result in a long-term economic downturn that could negatively affect future performance. The extent to which COVID-19 will impact our business and our consolidated financial results in the future will depend on future developments related to the spread of COVID-19 which are highly uncertain and cannot be predicted at the time of the filing of this Quarterly Report on Form 10-Q. The consequences of COVID-19, when combined with other events or conditions over which we have little or no control, may create a material uncertainty as to Micronet's ability to continue as a going concern. The Company will continue to monitor the situation closely, but given the uncertainty, management cannot estimate the impact of the COVID-19 pandemic on the Company's financial statements or operations. Principles of Consolidation The accompanying financial statements are prepared in accordance with U.S. GAAP.

Loans from Others

Loans from Others	6 Months Ended
	Jun. 30, 2020
Loans from Others [Abstract]
LOANS FROM OTHERS	Note 3 — Loans from others On January 21, 2020, the Company entered into the Conversion Agreement with BNN pursuant to which BNN agreed to convert the outstanding BNN Note in the amount of $2,000,000 into 1,818,181 shares of the Company's newly-designated Series B Preferred Stock. On April 21, 2020, the Company entered into the April Purchase Agreements with the PIPE Purchasers, pursuant to which, among other things, the PIPE Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the April Purchase Agreement, to purchase from the Company the April Convertible Notes, with an aggregate principal amount of approximately $11,000,000. As of June 30, 2020, approximately $2,650,000 of the April Convertible Notes have not yet been received, and there can be no assurance that we will ever receive the proceeds expected to be realized in connection therewith.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	Note 4 — Stockholders' Equity On June 4, 2019, the Company commenced an offering of its Series A Preferred Stock (the "Series A Preferred Stock"), by entering into a securities purchase agreement, pursuant to which the Company sold, in multiple closings, 3,181,818 shares of Series A Preferred Stock (the "Preferred Offering"). The Series A Preferred Stock, convertible into up to 6,363,636 shares of common stock of the Company, was issued together with certain preferred warrants (the "Series A Preferred Warrants") to purchase up to 4,772,727 shares of common stock, for aggregate gross proceeds of $7,000,000 to the Company. On July 29, 2019, the Company completed the first closing in the Preferred Offering, pursuant to which it sold 2,386,363 shares of Series A Preferred Stock and 3,579,544 accompanying Series A Preferred Warrants for aggregate gross proceeds of $5,250,000. The Company paid an aggregate of $420,000 in fees with respect to this closing of the Preferred Offering. Additionally, in January 2020, the Company completed a second closing of the sale of Series A Convertible Preferred Stock, pursuant to which it sold 795,455 additional shares of Series A Preferred Stock and 1,193,183 accompanying Preferred Warrants to purchase up to 1,084,712 shares of the Company's common stock, for aggregate gross proceeds of $1,750,000. The Company paid an aggregate of $140,000 in fees with respect to this closing of the Preferred Offering. The Series A Preferred Stock is convertible into common stock at the option of each holder of Series A Preferred Stock at any time and from time to time, and shall also convert automatically upon the occurrence of certain events. The Company shall also have the option to redeem some or all of the Series A Preferred Stock, at any time and from time to time, beginning on December 31, 2019 subject to the satisfaction of certain conditions. The holders of Series A Preferred Stock vote together with the holders of common stock as a single class on as-converted basis, and the holders of Series A Preferred Stock holding a majority-in-interest of the Series A Preferred Stock are entitled to appoint an independent director to the Company's board of directors. The Preferred Securities Purchase Agreement provides for customary registration rights. Such registration rights remain outstanding and to date no resale registration statement has been filed with respect to the shares of Common Stock underlying the Series A Preferred Stock. The Series A Preferred Warrants have an exercise price of $1.01 (subject to customary adjustment in the event of future stock dividends, splits and the like) and are exercisable immediately, until the earlier of (i) two years from the date of issuance or (ii) the later of (a) 180 days after the closing by the Company of a change of control transaction, or (b) the company's next debt or equity financing of at least $20,000,000.

Loss of Control of Subsidiary

Loss of Control of Subsidiary	6 Months Ended
	Jun. 30, 2020
Loss of Control of Subsidiary [Abstract]
LOSS OF CONTROL OF SUBSIDIARY	NOTE 5 — LOSS OF CONTROL OF SUBSIDIARY As of December 31, 2018, we held 49.89% of Micronet's issued and outstanding shares, and together with an irrevocable proxy in our benefit from Mr. David Lucatz, our President and Chief Executive Officer, we held 50.07% of the voting interest in Micronet as of such date. On February 24, 2019, Micronet closed a public equity offering on the TASE. As a result of Micronet's offering, our ownership interest in Micronet was diluted from 49.89% to 33.88%. On September 5, 2019, Micronet closed a public equity offering on the TASE. As a result, our ownership interest in Micronet was diluted from 33.88% to 30.48%. The initial decrease in the Company's voting interest in Micronet resulted in the loss of control of Micronet. As a result, commencing on February 24, 2019, the Company no longer accounted for its ownership in Micronet in its financial statements. Commencing on February 24, 2019, the Company began to account for its ownership in Micronet in accordance with the equity method. The method used for determining fair value of the investment in Micronet was based on a quoted market price on the TASE.

Gain of Control of Subsidiary-

Gain of Control of Subsidiary- Micronet Acquisition	6 Months Ended
	Jun. 30, 2020
Gain Of Control Of Subsidiary- Micronet Acquisition
GAIN OF CONTROL OF SUBSIDIARY- MICRONET ACQUISITION	NOTE 6 — GAIN OF CONTROL OF SUBSIDIARY- Micronet Acquisition On June 23, 2020, the company completed the special tender offer (the " Tender Offer Also on June 23, 2020, MICT purchased an additional 10,334,000 shares of Micronet's Ordinary Shares in the aggregate amount of NIS 3,100,000 (or $887,000), which brought MICT's ownership interest up to 53.39%. Accordingly, MICT obtained voting control over Micronet and, as a result, MICT applied purchase accounting (see the table below) and began to consolidate Micronet beginning on such date. MICT recognized a $665,000 gain on previously held equity in Micronet. There are material uncertainties related to events or conditions such as: (i) the effects of COVID-19 on Micronet's overall business (ii) recent accumulated losses, (iii) historical working capital deficiencies, (iv) the significant decrease in demand for the company's products, which results in a delay in the receipt of new orders and, consequently, a lack of sufficient backlog, and (v) a significant slowdown in the business activities of the global economy. The above reasons, among others, create a material uncertainty and cast substantial doubt upon Micronet's ability to continue as a going concern. The company income and net loss as presented if the Company's acquisition date had occurred at the beginning of the annual reporting period Six months ended Three months ended 2020 2020 Revenues $ 1,089 $ 472 Net loss $ (3,952 ) (882 ) Management engaged a third-party valuation firm to assist them with the valuation of the intangible assets that are detailed in the schedule below. Purchased identifiable intangible assets are amortized on a straight-line basis over their respective useful lives. The table set forth below summarizes the estimates of the fair value of assets acquired and liabilities assumed and resulting gain on bargain purchase. In addition, the following table summarizes the allocation of the preliminary purchase price as of the acquisition date: Micronet Ltd. Purchase Price Allocation (USD In Thousands) Total cash consideration (1) 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital, (2) $ 788 Property and equipment (2) 661 Right of use assets (2) 310 Other assets (2) 26 Borrowings (2) (1,675 ) Severance payable (2) (95 ) Lease liabilities (2) (101 ) Intangible assets - trade name/ trademarks 270 Intangible assets - developed technology 1,580 Intangible assets - customer relationship 410 Intangible assets - ground 215 Deferred Tax liability (362 ) Fair value of net assets acquired $ 2,027 Noncontrolling interest (2,172 ) Gain on equity interest (665 ) Equity investment (921 ) Change in investment (3,758 ) Goodwill value $ 2,618 (1) Cash paid at the closing of the Micronet public offering. (2) Book value used as a proxy for fair value.

Loan to Micronet Ltd.

Loan to Micronet Ltd.	6 Months Ended
	Jun. 30, 2020
Loan to Micronet Ltd. [Abstract]
Loan to Micronet Ltd.	NOTE 7 — Loan to Micronet Ltd. On September 19, 2019, MICT Telematics entered into a loan agreement with Micronet, pursuant to which MICT Telematics loaned Micronet $250,000 (the " First Loan In view of Micronet's working capital needs, on November 18, 2019, the Company entered into an additional loan agreement with Micronet for the loan of $125,000 (the " Second Loan On November 13, 2019, the Company and Micronet executed a convertible loan agreement pursuant to which the Company agreed to loan to Micronet $500,000 in the aggregate (the " Initial Convertible Loan Convertible Loan Warrant Amended Convertible Loan On January 1, 2020, the Convertible Loan agreement was approved at the general meeting of Micronet's shareholders. At such time, the First Loan and Second Loan were repaid to us and the remaining amount due to be loaned under the Convertible Loan, in the sum of $125,000, was loaned to Micronet. The Company recognized an impairment loss on financial assets derived from the measurement performed by comparing the quoted market price of Micronet's shares on the TASE at its carrying value. As of March 30, 2020, the Company recorded a financial expense on the Convertible Loan in the amount of $272,000, and the company canceled the recording of this impairment quarter

Note Purchase Agreements

Note Purchase Agreements	6 Months Ended
	Jun. 30, 2020
Note Purchase Agreements [Abstract]
Note Purchase Agreements	NOTE 8 — Note Purchase Agreements On April 21, 2020, the Company entered into the April Purchase Agreements with the PIPE Purchasers, pursuant to which, among other things, the PIPE Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the April Purchase Agreement, to purchase from the Company April Convertible Notes, with an aggregate principal amount of approximately $11,000,000. The April Convertible Notes shall be convertible into shares of common stock of the Company at a conversion price of $1.10 per share. Approximately $8,000,000 of the April Convertible Notes will be due two years from the date of issuance, while approximately $3,000,000 of the April Convertible Notes will be due five years from the date of issuance. The Company is obligated to pay interest to the PIPE Purchasers on the outstanding principal amount at the rate of 1.0% per annum, payable on each conversion date, in cash or, at the Company's option, in shares of its common stock. On April 2020, the Company Received an aggregate principal amount of approximately $5,400,000 and in May and June 2020, we received an aggregate principal amount of approximately $2,950,000, which will be due two years from the date of issuance. The Company paid an aggregate of $200,000 in fees with respect to this closing of the April Convertible Notes. As of June 30, 2020, approximately $2,650,000 of the Convertible Notes have not yet been received, and there can be no assurance that we will ever receive the proceeds expected to be realized in connection therewith.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 — SUBSEQUENT EVENTS On July 1, 2020, the Company completed the Acquisition of GFH Intermediate Holdings Ltd., a British Virgin Islands company (" Intermediate GFH Merger Sub Restated Merger Agreement Consideration Note Intermediate is a financial technology company with a significant China marketplace. Intermediate is currently in the process of building various platforms for business opportunities in various verticals and technology segments, including the online trading of stock, oil and gas, and recyclable metal and insurance brokerage (collectively, the " Platforms Leveraging the Intermediate management team's extensive business experience in China and its deep connections with certain of China's leading government agencies and provincial and local government departments as well as the contracts secured in valuable market segments, MICT, through its acquisition of Intermediate, plans to launch the Platforms initially in China and, thereafter, to other areas of the world. MICT aims, and believes that Intermediate has been well positioned, to establish itself as an operator of leading fin-tech platforms, and it intends to continuously improve the capabilities of such platforms through further acquisitions or license of technologies. On July 8, 2020, the Company entered into a series of additional Purchase Agreements with certain Purchasers pursuant to which such Purchasers agreed to purchase from the Company Convertible Notes with an aggregate principal amount of approximately $4,000,000. As of the date hereof, the Company has entered into Purchase Agreements to sell Convertible Notes with an aggregate principal amount of approximately $15,000,000). On August 13, 2020, MICT Telematics extended to Micronet a loan in the aggregate amount of $175,000 (the " Loan Loan Sum , which may be exercised by Micronet during such twelve month period. The Loan Sum will fund the working capital and general corporate purposes required by Micronet Ltd. and may only be used for such purpose. The Loan did not bear any interest.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed, unaudited, consolidated financial statements and condensed footnotes have been prepared in accordance with the applicable rules and regulations of the SEC, regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by the accounting principles generally accepted in the United States of America, or U.S. GAAP, for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for fair statement of results for the interim periods presented have been included. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The consolidated balance sheet as of June 30, 2020 is derived from unaudited financial statements as of that date; and it does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Furthermore, from February 24, 2019 until June 23, 2020, the Company accounted for its ownership in Micronet in accordance with the equity method; and therefore, the results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year 2020 or for other interim periods or for future years. The Company's operations and business have experienced disruptions due to, among other things, the unprecedented conditions surrounding the spread of the COVID-19 virus throughout North America, Israel and the world. While the Company expects the COVID-19 pandemic to have an impact on its business operations and financial results, the extent of the impact on the Company's business, its corporate development objectives, its financial position and the value of and market for its common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, Israel, or elsewhere, as well as the effectiveness of actions taken globally to contain and treat the disease. Notably, COVID-19 and measures implemented to reduce the spread of the virus have limited access to the Company's offices and have disrupted its normal interactions with certain of its accounting personnel, legal advisors, auditors and others. Additionally, the COVID-19 outbreak has adversely affected the global economy and financial markets, which may result in a long-term economic downturn that could negatively affect future performance. The extent to which COVID-19 will impact our business and our consolidated financial results in the future will depend on future developments related to the spread of COVID-19 which are highly uncertain and cannot be predicted at the time of the filing of this Quarterly Report on Form 10-Q. The consequences of COVID-19, when combined with other events or conditions over which we have little or no control, may create a material uncertainty as to Micronet's ability to continue as a going concern. The Company will continue to monitor the situation closely, but given the uncertainty, management cannot estimate the impact of the COVID-19 pandemic on the Company's financial statements or operations.
Principles of Consolidation	Principles of Consolidation The accompanying financial statements are prepared in accordance with U.S. GAAP.

Gain of Control of Subsidiary_2

Gain of Control of Subsidiary- Micronet Acquisition (Tables)	6 Months Ended
	Jun. 30, 2020
Gain Of Control Of Subsidiary- Micronet Acquisition
Schedule of discontinued operation	Six months ended Three months ended 2020 2020 Revenues $ 1,089 $ 472 Net loss $ (3,952 ) (882 )
Schedule of purchase price of acquisition	Total cash consideration (1) 887 Total Purchase Consideration $ 887 Less: Debt-free net working capital, (2) $ 788 Property and equipment (2) 661 Right of use assets (2) 310 Other assets (2) 26 Borrowings (2) (1,675 ) Severance payable (2) (95 ) Lease liabilities (2) (101 ) Intangible assets - trade name/ trademarks 270 Intangible assets - developed technology 1,580 Intangible assets - customer relationship 410 Intangible assets - ground 215 Deferred Tax liability (362 ) Fair value of net assets acquired $ 2,027 Noncontrolling interest (2,172 ) Gain on equity interest (665 ) Equity investment (921 ) Change in investment (3,758 ) Goodwill value $ 2,618 (1) Cash paid at the closing of the Micronet public offering. (2) Book value used as a proxy for fair value.

Description of Business (Detail

Description of Business (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2020USD ($)$ / shares	Jun. 23, 2020	Apr. 21, 2020USD ($)	Jul. 29, 2019USD ($)shares	Jun. 04, 2019shares	Jun. 04, 2019USD ($)shares	May 31, 2020USD ($)	Jan. 31, 2020USD ($)shares	Nov. 07, 2019	Jul. 29, 2019USD ($)	Jun. 30, 2019	Feb. 28, 2019USD ($)	Jul. 31, 2017USD ($)	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2019USD ($)	Jun. 10, 2020USD ($)	Apr. 15, 2020USD ($)	Apr. 15, 2020₪ / shares	Jan. 21, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Sep. 05, 2019	Feb. 24, 2019	Dec. 31, 2018
Description of Business (Textual)
Share purchase agreement, description		The Company announced that, as a result of (i) the completion of the tender offer, in which 5,999,996 of Micronet's ordinary shares were purchased for aggregate proceeds of NIS 1,800,000 (or $515,000), and (ii) the closing of the public offering, in which the Company purchased 10,334,000 of Micronet's ordinary shares for total consideration of NIS 3,100,200 (or $887,000), the Company currently owns 53.39% of Micronet's outstanding ordinary shares.
Losses														$ 227	$ (1,102)	$ (1,408)	$ (2,012)
Net gain (loss) from deconsolidation of Micronet Ltd.												$ 299
Total comprehensive loss														391	$ (1,102)	(1,314)	(2,711)
Net cash used in operating activities																(1,645)	$ (1,355)
Pay off all to the bank loans																15,900
Total dollar amount													$ 30,000
Proceeds from sale of securities													$ 1,000
Voting interest																									50.07%
Percentage of shares issued and outstanding																		45.53%					30.48%		49.89%
Outstanding bank loans	$ 1,186													1,186		1,186
Sale of stock issued | shares								795,455
Purchase amount of convertible notes from company			$ 11,000
Preferred Stock stated value per share | $ / shares																					$ 0.001
Sale of stock price per share | ₪ / shares																				₪ 1.10
Gross proceeds	2,950		$ 5,400				$ 2,950
Aggregate amount	$ 8,151													$ 8,151		$ 8,151			$ 25,000
Conversion of preferred stock | shares					6,363,636	6,363,636
Aggregate gross proceeds						$ 7,000				$ 5,250
Outstanding convertible note amount																					$ 2,000,000
Outstanding convertible share | shares																					1,818,181
Micronet's Ordinary Shares																		$ 900
Primary purchase agreement, description			The Company entered into a series of Note Purchase Agreements (the "April Purchase Agreements"), with certain investors (the "PIPE Purchasers"), pursuant to which, among other things, the PIPE Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the April Purchase Agreement, to purchase from the Company certain convertible notes (the "April Convertible Notes"), with an aggregate principal amount of approximately $11,000,000 (the "April Convertible Note Offering"). The April Convertible Notes shall be convertible into shares of common stock of the Company at a conversion price of $1.10 per share (the "April Conversion Shares"). Approximately $8,000,000 of the April Convertible Notes will be due two years from the date of issuance, while approximately $3,000,000 of the April Convertible Notes will be due five years from the date of issuance. The Company is obligated to pay interest to the PIPE Purchasers on the outstanding principal amount at the rate of 1.0% per annum, payable on each conversion date, in cash or, at the Company's option, in shares of its common stock. On April 2020, the Company received an aggregate principal amount of approximately $5,400,000 and in May and June 2020, and we received an aggregate principal amount of approximately $2,950,000 in connection therewith, which will be due two years from the date of issuance. The Company paid an aggregate of $200,000 in fees with respect to this closing of the April Convertible Notes. As of June 30, 2020, approximately $2,650,000 of the Convertible Notes have not yet been received and there can be no assurance that we will ever receive the proceeds expected to be realized in connection therewith.						The Company entered into a Securities Purchase Agreement (the "Primary Purchase Agreement"), with certain investors (the "Primary Purchasers"), pursuant to which, among other things, the Primary Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the Primary Purchase Agreement, to purchase from us 5% senior secured convertible debentures due during 2020 (the "Primary Convertible Debentures") with an aggregate principal amount of approximately $15,900,000 (the "Primary Convertible Debenture Offering"). The proceeds of $15,900,000 from the sale of the Primary Convertible Debentures were funded on January 21, 2020. Concurrently with entry into the Primary Purchase Agreement, the Company entered into a separate Securities Purchase Agreement (the "Non-Primary Purchase Agreement") and, together with the Primary Purchase Agreement, the Purchase Agreements, with certain investors (the "Non-Primary Purchasers", and, together with the Primary Purchasers, the "Purchasers"), pursuant to which, among other things, the Non-Primary Purchasers agreed, subject to the satisfaction or waiver of the conditions set forth in the Non-Primary Purchase Agreement, to purchase from us 5% senior secured convertible debentures due during 2020 (the "Non-Primary Convertible Debentures", and, together with the Primary Convertible Debentures, the "Convertible Debentures", with an aggregate principal amount of $9,000,000, together with the Primary Convertible Debenture Offering, the "Convertible Debenture Offering"). The Convertible Debentures were convertible into our shares of our common stock at a conversion price of $1.41 per share. The Primary Purchasers exercised their right to an optional redemption pursuant to Section 6(b) of each Primary Convertible Debenture and declared the occurrence and continuance of an event of default, each of which accelerated the Company's obligation to repay all outstanding balances under the Primary Convertible Debentures (the "Optional Redemption"). On March 16, 2020, the Outstanding Principle was transferred from the Company to the Purchasers. As a result, the Primary Purchase Agreement was terminated.
Note purchase agreement, description				The Company completed the first closing in the Preferred Offering, pursuant to which it sold 2,386,363 shares of Series A Preferred Stock and 3,579,544 accompanying Series A Preferred Warrants for aggregate gross proceeds of $5,250,000. The Company paid an aggregate of $420,000 in fees with respect to this closing of the Preferred Offering. Additionally, in January 2020, the Company completed a second closing of the sale of Series A Convertible Preferred Stock, pursuant to which it sold 795,455 additional shares of Series A Preferred Stock and 1,193,183 accompanying Preferred Warrants to purchase up to 1,084,712 shares of the Company's common stock, for aggregate gross proceeds of $1,750,000. The Company paid an aggregate of $140,000 in fees with respect to this closing of the Preferred Offering.							The Company entered into a Securities Purchase Agreement with BNN, pursuant to which BNN agreed to purchase from the Company $2,000,000 of convertible notes (the "BNN Notes"), which were issued on July 31, 2019. The BNN Notes, which were initially convertible into up to 2,727,272 shares of common stock, were sold together with certain common stock purchase warrants to purchase up to 2,727,272 shares of common stock.
Series B Convertible Preferred Stock
Description of Business (Textual)
Preferred Stock stated value per share | $ / shares	$ 0.001													$ 0.001		$ 0.001					$ 1.10	$ 0.001
Series A Convertible Preferred Stock
Description of Business (Textual)
Share purchase agreement, description					The Company commenced an offering of its Series A Preferred Stock (the "Series A Preferred Stock"), by entering into a securities purchase agreement, pursuant to which the Company sold, in multiple closings, 3,181,818 shares of Series A Preferred Stock (the "Preferred Offering"). The Series A Preferred Stock, convertible into up to 6,363,636 shares of common stock of the Company, was issued together with certain preferred warrants (the "Series A Preferred Warrants") to purchase up to 4,772,727 shares of common stock, for aggregate gross proceeds of $7,000,000 to the Company.
Sale of stock issued | shares				2,386,363		3,181,818		1,193,183
Warrants to purchase of common stock | shares				3,579,544
Preferred Stock stated value per share | $ / shares	$ 0.001													$ 0.001		$ 0.001						$ 0.001
Aggregate gross proceeds				$ 1,750				$ 1,750
Maximum [Member]
Description of Business (Textual)
Ownership interest in Micronet, diluted																							33.88%	49.89%
Minimum [Member]
Description of Business (Textual)
Ownership interest in Micronet, diluted																							30.48%	33.88%

Loans from Others (Details)

Loans from Others (Details) - USD ($) $ in Thousands	Apr. 21, 2020	Jun. 30, 2020	Jan. 21, 2020
Loans from Others (Textual)
Outstanding BNN amount			$ 2,000,000
Outstanding convertible share			1,818,181
Convertible note not received		$ 2,650
Purchase amount of convertible notes	$ 11,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Jul. 29, 2019USD ($)shares	Jun. 04, 2019USD ($)$ / sharesshares	Jan. 31, 2020USD ($)shares	Jul. 29, 2019USD ($)shares	Apr. 15, 2020₪ / shares
Stockholders' Equity (Textual)
Sale of stock			795,455
Stated value of per share | ₪ / shares					₪ 1.10
Conversion of preferred stock		6,363,636
Conversion of preferred warrants		4,772,727
Aggregate gross proceeds | $		$ 7,000		$ 5,250
Preferred warrants exercise price | $ / shares		$ 1.01
Preferred warrants exercisable, description		(i) two years from the date of issuance or (ii) the later of (a) 180 days after the closing by the Company of a change of control transaction, or (b) the company's next debt or equity financing of at least $20,000,000.
Preferred Stock [Member]
Stockholders' Equity (Textual)
Total expenses | $				$ 420
Sale of stock				2,386,363
Warrant [Member]
Stockholders' Equity (Textual)
Sale of stock				3,579,544
Warrants topurchase of common stock				1,084,712
Series A Convertible Preferred Stock [Member]
Stockholders' Equity (Textual)
Sale of stock	2,386,363	3,181,818	1,193,183
Aggregate gross proceeds | $	$ 1,750		$ 1,750
Aggregate fees | $			$ 140
Warrants topurchase of common stock	3,579,544

Loss of Control of Subsidiary (

Loss of Control of Subsidiary (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2018	Jun. 10, 2020	Sep. 05, 2019	Feb. 24, 2019
Loss of Control of Subsidiary (Textual)
Percentage of shares issued and outstanding		49.89%	45.53%	30.48%
Micronet [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest	53.39%	50.07%
Ownership interest in Micronet, diluted		49.89%
Maximum [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest in Micronet, diluted				33.88%	49.89%
Minimum [Member]
Loss of Control of Subsidiary (Textual)
Ownership interest in Micronet, diluted				30.48%	33.88%

Gain of Control of Subsidiary_3

Gain of Control of Subsidiary- Micronet Acquisition (Details) - Micronet [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Revenues	$ 472	$ 1,089
Net loss	$ (882)	$ (3,952)

Gain of Control of Subsidiary_4

Gain of Control of Subsidiary- Micronet Acquisition (Details 1) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019	Feb. 24, 2019
Less:
Property and equipment		$ 689	$ 29
Right of use assets		310		$ 310
Other assets				26
Lease liabilities		(1,865)	(290)
Noncontrolling interest		2,172		(2,172)
Goodwill value		2,618		$ 2,618
Micronet [Member]
Total cash consideration	[1]	887
Total Purchase Consideration		887
Less:
Debt-free net working capital	[2]	788
Property and equipment	[2]	661
Right of use assets	[2]	310
Other assets	[2]	26
Borrowings	[2]	(1,675)
Severance payable	[2]	(95)
Lease liabilities	[2]	(101)
Intangible assets - trade name/ trademarks		270
Intangible assets - developed technology		1,580
Intangible assets - customer relationship		410
Intangible assets - ground		215
Deferred Tax liability		(362)
Fair value of net assets acquired		2,027
Noncontrolling interest		(2,172)
Gain on equity interest		(665)
Equity investment		(921)
Change in investment		(3,758)
Goodwill value		$ 2,618
[1]	Cash paid at the closing of the Micronet public offering.
[2]	Book value used as a proxy for fair value.

Gain of Control of Subsidiary_5

Gain of Control of Subsidiary- Micronet Acquisition (Details Textual) - USD ($) $ in Thousands	1 Months Ended		6 Months Ended	12 Months Ended
	Jun. 23, 2020	Feb. 28, 2019	Jun. 30, 2020	Dec. 31, 2018
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value			$ 887
Net gain (loss) from deconsolidation of Micronet Ltd.		$ 299
ILS [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value	$ 3,100
Common Stock
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Purchased shares	5,999,996
Aggregate value	$ 515
Ownership interest	45.53%
Purchased an additional shares	10,334,000
Common Stock | ILS [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Aggregate value	$ 1,800
Micronet [Member]
Gain of Control of Subsidiary- Micronet Acquisition (Textual)
Ownership interest			53.39%	50.07%
Net gain (loss) from deconsolidation of Micronet Ltd.			$ 665,000

Loan to Micronet Ltd. (Details)

Loan to Micronet Ltd. (Details) $ in Thousands	May 14, 2020₪ / shares	Nov. 13, 2019USD ($)₪ / shares	Sep. 19, 2019USD ($)	May 27, 2020₪ / shares	Jun. 30, 2020USD ($)	Apr. 21, 2020USD ($)	Jan. 02, 2020USD ($)	Nov. 18, 2019USD ($)
Loan to Micronet Ltd. (Textual)
Agreed to loan | $						$ 11,000
Conversion price per share | ₪ / shares	₪ 0.14
Exercise price per share | ₪ / shares				₪ 0.16
Micronet [Member]
Loan to Micronet Ltd. (Textual)
Agreed to loan | $		$ 500						$ 125
Convertible Loan, description					The First Loan, including the repayment terms. Accordingly, prior to the approval of the Convertible Loan by Micronet's shareholders on January 1, 2020, the Company had transferred to Micronet, pursuant to the First Loan and Second Loan, a total sum of $375,000.
Bears interest rate		3.95%
Conversion price per share | ₪ / shares		$ 0.38
Exercise price per share | ₪ / shares		$ 0.60
Convertible Loan | $					$ 272		$ 125
Subsidiary [Member]
Loan to Micronet Ltd. (Textual)
Agreed to loan | $			$ 250
Loan to subsidiary, description			The proceeds from the First Loan were designated, per the terms of the First Loan, for Micronet's working capital and general corporate needs. The First Loan did not bear any interest and was due and payable upon the earlier of (i) December 31, 2019; or (ii) at such time Micronet receives an investment of at least $250,000 from non-related parties.

Note Purchase Agreements (Detai

Note Purchase Agreements (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2020USD ($)	Apr. 21, 2020USD ($)$ / shares	May 31, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 13, 2019$ / shares	Feb. 21, 2019$ / shares
Note Purchase Agreements (Textual)
Aggregate principal amount		$ 11,000
Conversion price per share | $ / shares		$ 1.10			$ 1.10	$ 1
Convertible notes description		The April Convertible Notes shall be convertible into shares of common stock of the Company at a conversion price of $1.10 per share. Approximately $8,000,000 of the April Convertible Notes will be due two years from the date of issuance, while approximately $3,000,000 of the April Convertible Notes will be due five years from the date of issuance.
Percentage of outstanding principal amount		0.010
Gross proceeds	$ 2,950	$ 5,400	$ 2,950
Payment to cash		$ 200
Convertible note not received				$ 2,650

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	Jul. 08, 2020USD ($)	May 14, 2020₪ / shares	Apr. 21, 2020USD ($)$ / shares	Nov. 13, 2019USD ($)₪ / shares	May 27, 2020₪ / shares	Jun. 30, 2020USD ($)	Aug. 13, 2020USD ($)	Jul. 01, 2020USD ($)$ / shares	Nov. 18, 2019USD ($)	Mar. 13, 2019$ / shares	Feb. 21, 2019$ / shares
Subsequent Events (Textual)
Aggregate principal amount			$ 11,000
Conversion price per share | $ / shares			$ 1.10							$ 1.10	$ 1
Payment to cash			$ 200
Exercise price per share | ₪ / shares					₪ 0.16
Conversion price per share | ₪ / shares		₪ 0.14
Sale of convertible notes						$ 2,650
Micronet [Member]
Subsequent Events (Textual)
Aggregate principal amount				$ 500					$ 125
Exercise price per share | ₪ / shares				$ 0.60
Conversion price per share | ₪ / shares				$ 0.38
Subsequent Event [Member]
Subsequent Events (Textual)
Aggregate principal amount								$ 25,000
Conversion price per share | $ / shares								$ 1.10
Additional purchase amount	$ 4,000
Sale of convertible notes	$ 15,000
Subsequent Event [Member] | Micronet [Member]
Subsequent Events (Textual)
Aggregate principal amount							$ 175